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Partnership

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and
  • Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.
  • Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.
  • Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.
  • Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.
  • Give answer(E) if the data in both Statements I and II together are necessary to answer the question.
Q1:

Ravi, Gagan and Nitin are running a business firm in partnership. What is Gagan's share in the profit earned by them?
I.  Ravi, Gagan and Nitin invested the amounts in the ratio of 2 : 4 : 7.
 II.  Nitin's share in the profit is Rs. 8750.

A I alone sufficient while II alone not sufficient to answer

B II alone sufficient while I alone not sufficient to answer

C Either I or II alone sufficient to answer

D Both I and II are not sufficient to answer

E Both I and II are necessary to answer

ANS:E - Both I and II are necessary to answer

Let us name Ravi, Gagan and Nitin by R, G and N respectively.  I. R : G : N = 2 : 4 : 7. II. N = 8750.. From I and II, we get: When N = 7, then G = 4.

When N = 8750, then G = 4 x 8750 = 5000.
7
Thus, both I and II are needed to get the answer.  Correct answer is (E).



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