The given question consists of three statements numbered I, II and III. You have to decide whether the data provided in the statements are sufficient to answer the question. Read all the statements and answer the question. Three friends Praveen, Ranveer and Hrithik started a business investing money in the ratio of 5 ∶ 4 ∶ 2 for a period of 3 years. What is the amount received by Praveen as his share in the total profit I. Total amount invested in the business is Rs. 22,000. II. Profit earned at the end of 3 years is 3/8th of the total investment. III. The average amount of profit earned per year is Rs. 2750.?

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  1. Statement I and statement II together are sufficient to answer the question.
  2. Statement II and either statement I or statement III together are sufficient to answer the question.
  3. Either statement III or statement I and statement II together are sufficient to answer the question.
  4. Only statement II is sufficient to answer the question.
  5. All the statements are sufficient to answer the question.

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Option 3 : Either statement III or statement I and statement II together are sufficient to answer the question.

Considering statement I,

I. Total amount invested in business is Rs. 22,000.

∴ This statement is not sufficient alone

Considering statement II,

II. Profit earned at the end of 3 years is 3/8th of the total investment.

∴ This statement is not sufficient alone

Considering statement III,

III. The average amount of profit earned per year is Rs.2750.

From III, profit after 3 years = (2750 × 3) = Rs. 8250

∴ Praveen’s share = Rs. 8250 × (5/11) = Rs. 3750

∴ This statement is sufficient to answer the question

Considering statements I and II together,

I. Total amount invested in business is Rs. 22,000.

II. Profit earned at the end of 3 years is 3/8th of the total investment.

Profit after 3 years = Rs. (3/8 × 22000) = Rs. 8250

∴ Praveen’s share = Rs. (8250 × (5/11)) = Rs. 3750

∴ The statements I and II are sufficient to answer the question

∴ Either statement III or statement I and statement II together are sufficient to answer the question.
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