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Nitin and Mohit started a business by investing Rs. 50,000 each initially. After 4 months, Nitin has to withdraw Rs. 10,000. If the total profit at the end of the year was Rs. 20,000, what is the share of Nitin?

Nitin and Mohit started a business by investing Rs. 50,000 each initially. After 4 months, Nitin has to withdraw Rs. 10,000. If the total profit at the end of the year was Rs. 20,000, what is the share of Nitin? Correct Answer 9286

Calculations:

Initial investment by Nitin = Rs.50000

Initial investment by Mohit = Rs.50000

Time period of investment by Mohit = 12 months

Time period of investment of Rs.50000 by Nitin = 4 months

Reduced sum of investment by Nitin = 50000 – 10000 = Rs.40000

Time period of investment of Rs.50000 by Nitin = 4 months

Time period of investment of Rs.40000 by Nitin = 12 – 4 = 8

Hence, the ratio of shares in the profit by Nitin and Mohit is obtained as:

 ∶ 50000 × 12 = 13 ∶ 15

Nitin's share in profit = (13/28) × 20000 ≈ Rs.9286 

∴ Share of Nitin is Rs. 9286

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