Let total profit be $P$.
Management commission to Wajid $= 0.25P$.
Remaining profit to be shared $= 0.75P$.
Ratio of profit sharing (Investment $\times$ Time period):
Sajid: $70000 \times 12 = 840,000$
Wajid: $52500 \times 8 = 420,000$

Sajid's share of profit $= \frac{2}{3} \times 0.75P = 0.50P$.
Wajid's share of profit $= \frac{1}{3} \times 0.75P = 0.25P$.
Total received by Wajid $= \text{Commission} + \text{Profit share} = 0.25P + 0.25P = 0.50P$.
Given $0.50P = 60,000 \implies P = 120,000$.
Amount received by Sajid $= 0.50P = \text{Rs. } 60,000$.