Despite a decade of extensive research on two-dimensional transition metal dichalcogenides, there are still some gaps in our understanding of their remarkable properties, limiting their potential applications. One such gap relates to the properties of these alloys, which offer tunable band gaps and can serve as the basis for various optoelectronic and nonlinear optical devices. A comprehensive understanding of the ultrafast charge carrier excitation and relaxation dynamics as well as their characteristic relaxation time constants, is crucial for the further use of these materials in specific applications. In this work, we experimentally investigate the dynamics of ultrafast relaxation processes in monolayer MoS2xSe2(1-x) alloys on a Si/SiO2 substrate using time-resolved spectroscopy. We determine the characteristic relaxation time constants for structures with different stoichiometric compositions and refine these constants by accounting for interference effects arising from the substrate.