Mohit and Sumit started a business with investments of Rs. 74000 and Rs. 96000 respectively. If at the end of the year, they earn profit in the ratio of 5 : 8, then what will be the ratio of the time period for which they invest their money?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 30 : 37.
Let the time period that they invested be x and y years respectively.
(Investment of Mohit × Time)/(Investment of Sumit× Time) = Profit of Mohit/Profit of Sumit)
ATQ -
74x/96y = 5/8
⇒ x/y = (5 × 48)/(8 ×37)
⇒ x/y = 30/37
⇒ x : y = 30 : 37