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Partnership

Each of the questions given below consists of a question followed by three statements. You have to study the question and the statements and decide which of the statement(s) is/are necessary to answer the question.

Q1:
What is R's share of profit in a joit venture?
I.  Q started business investing Rs. 80,000.
II.  R joined him after 3 months.
 III.  P joined after 4 months with a capital of Rs. 1,20,000 and got Rs. 6000 as his share profit.

A All I, II and III

B I and III only

C II and III only

D Even with all I, II and III, the answer cannot be arrived at

E None of these

ANS:D - Even with all I, II and III, the answer cannot be arrived at

From I, II and III, we get P : Q : R = (120000 x 8) : (80000 x 12) : (x x 9). Since R's investment is not given, the above ratio cannot be give.  Given data is inadequate.



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