Let the line cut the X-axis at A(a, 0) and the Y-axis at B(0, b).
The equation of the line in the intercept form is $\frac{x}{a} + \frac{y}{b} = 1$.
Since this line passes through the point (3, 2), we have:
$\frac{3}{a} + \frac{2}{b} = 1$. (Eq. 1)
Let the coordinates of the point P be $(h, k)$.
P divides the line segment AB in the ratio 2:3. Using the section formula:
$h = \frac{2(0) + 3(a)}{2+3} = \frac{3a}{5} \implies a = \frac{5h}{3}$.
$k = \frac{2(b) + 3(0)}{2+3} = \frac{2b}{5} \implies b = \frac{5k}{2}$.
Now substitute these expressions for $a$ and $b$ into Eq. 1:
$\frac{3}{(5h/3)} + \frac{2}{(5k/2)} = 1$.
$\frac{9}{5h} + \frac{4}{5k} = 1$.
To clear the denominators, multiply the entire equation by $5hk$:
$9k + 4h = 5hk$.
The locus of P(h, k) is obtained by replacing $h$ with $x$ and $k$ with $y$.
$4x + 9y = 5xy$.