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Question

Sita and Gita enter into a partnership. Sita contributes Rs 5,000 while Gita contributes Rs 4,000. After 1 month, Gita withdraws 14th of her contribution and after 3 months Sita invests Rs 22,000 more. When Gita withdraws her investment, Rita joins them by investing Rs 7,000. If at the end of 1 year there is a profit of Rs 1,218, what will Rita's share of the profit?

A
Rs 488.47
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B
Rs 8,447.37
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C
Rs 588.47
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D
RS 623.37
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E
None of the above
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Solution

The correct option is A Rs 488.47
Here,
C1×t1=5000×12+2000×9=78000,
C2×t2=4000×1+3000×11=37000,
C3×t3=7000×11=77000 and P=1218
Rita's share in the profit
=C3×t3×PC1t1+C2t2+C3t3
=77000×121878000+37000+77000=Rs 488.47

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