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    Question

    The question consists of two statements I and II given below it. You have to decide whether the data provided in the statements are sufficient to answer the question or not.

    What is the total profit earned by two partners, A and

    B, in a business? Statement I: A and B started a business by investing Rs. 50,000 and Rs. 75,000, respectively. After 6 months, A withdrew Rs. 10,000, and B invested an additional Rs. 25,000. The business ran for 1 year, and the profit was distributed in proportion to their investments. Statement II: The total profit was shared between A and B in the ratio 14:19. B's share of the profit was Rs. 19,000.
    A Statement I alone is sufficient to answer the question Correct Answer Incorrect Answer
    B Statement II alone is sufficient to answer the question Correct Answer Incorrect Answer
    C Both statements together are necessary to answer the question Correct Answer Incorrect Answer
    D Either statement I alone or statement II alone is sufficient to answer the question Correct Answer Incorrect Answer
    E Both statements together are not sufficient to answer the question Correct Answer Incorrect Answer

    Solution

    Using Statement I, The profit-sharing ratio can be calculated based on the investments of A and B over 12 months.  However, the total profit is not provided, so this statement alone is not sufficient. Using Statement II,  The profit-sharing ratio and B's share of Rs. 19,000 allow us to calculate the total profit.  Since the ratio is 14:19, the total profit is Rs. (19,000 × (14 + 19)) ÷ 19 = Rs. 33,000.  This statement alone is sufficient to answer the question. Answer: B

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