Answer:

We can use the given information to determine Gagan's share in the profit.

Let's assume that the total amount invested by Ravi, Gagan, and Nitin is x.

From statement I, we know that the ratio of their investments is 2:4:7. So, the amount invested by Gagan is 4x/13.

From statement II, we know that Nitin's share in the profit is Rs. 8750. Let's assume that the total profit earned by the three partners is y. Then, Nitin's share in the profit is (7/13)*y.

We can now use the fact that the total profit earned by the three partners is divided among them in the same ratio as their investments. So, Gagan's share in the profit will be:

Gagan's Share = (4x/13) / (2x/13 + 4x/13 + 7x/13) * y

Simplifying this expression, we get:

Gagan's Share = (4/13) / (2/13 + 4/13 + 7/13) * y

Gagan's Share = (4/13) / (13/13) * y

Gagan's Share = 4/13 * y

Therefore, Gagan's share in the profit is 4/13 of the total profit earned by the three partners. The exact amount of Gagan's share cannot be determined without knowing the value of y.

Answer:

Let us name Ravi, Gagan and Nitin by R, G and N respectively.

I. R : G : N = 2 : 4 : 7.

II. N = 8750..

From I and II, we get:

When N = 7, then G = 4.

When N = 8750, then G = [4/7 x 8750]= 5000.

Thus, both I and II are needed to get the answer.