Aman began a business with ₹45,000 and was joined afterwards by Ashish with ₹30,000. When did Ashish join if the profit at the end of the year was divided in the ratio 2 : 1?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → After 3 months
Partners share profit in the ratio of capital × time (the number of months each capital was in the business). Aman's money worked all 12 months; let Ashish's money have worked for \(m\) months.
Aman's capital × time: \(45000\times12=540000\)
Ashish's capital × time: \(30000\times m\)
Profit ratio 2 : 1: \(\displaystyle\frac{540000}{30000\,m}=\frac{2}{1}\), so \(30000\,m=270000\) and \(m=9\)
Ashish's money was in for 9 months, so he joined \(12-9=3\) months after the start, that is after 3 months