P and Q invest ₹50,000 and ₹75,000 respectively in a business. What is P's share in a profit of ₹60,000?

The correct option is ₹24,000.

Step-by-step Explanation:

Step 1: Determine the ratio of investments
When partners invest money in a business for the same duration, the profit is divided among them in the direct ratio of their capital investments.

Given:
Investment of P = ₹50,000
Investment of Q = ₹75,000

We find the simplified ratio of P's investment to Q's investment:

$\text{Ratio (P : Q)}=50000:75000=2:3$

Step 2: Calculate total parts of the ratio
The total sum of the ratio parts is:

$\text{Total parts}=2+3=5$

Step 3: Calculate P's share in the total profit
Total profit = ₹60,000

P's fraction of the profit is 2 out of 5 total parts:

$\text{P's Share}=\left(\frac{2}{5}\right)\times 60000$

$\text{P's Share}=2\times 12000=24000$

Thus, P's share in the profit is ₹24,000.