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 Partnership Questions

Popular Latest Rated Important Formulae

FACTS  AND  FORMULAE  FOR  PARTNERSHIP  PROBLEMS

 

 

Partnership: When two or more than two persons run a business jointly, they are called partners and the deal is known as partnership.

 

Ratio of Division of Gains:

(i) When investments of all the partners are for the same time, the gain or loss is distributed a among the partners in the ratio of their investments. Suppose A and B invest Rs. x and Rs. y respectively for a year in a business, then at the end of the year (A’s share of profit) : (B's share of profit) = x : y.

 

(ii) When investments are for different time periods, then equivalent capitals are calculated for a unit of time by taking (capital x number of units of time). Now, gain or loss is divided in the ratio of these capitals. Suppose A invests Rs. x for p months and B invests Rs. y for q months, then (A’s share of profit) : (B's share of profit) = xp : yq.

 

Working and Sleeping Partners: A partner who manages the business is known as a working partner and the one who simply invests the money is a sleeping partner.

Q:

Aman started a business investing Rs. 70,000. Rakhi  joined him after six months with an amount of Rs. 1,05,000 and Sagar joined them with Rs. 1.4 lakhs after another six months. The amount of profit earned should be distributed in what ratio among Aman, Rakhi and Sagar respectively, 3 years after Aman started the business ?

A) 11 : 13 : 15 B) 11 : 13 : 17
C) 12 : 17 : 18 D) 12 : 15 :16
 
Answer & Explanation Answer: D) 12 : 15 :16

Explanation:

Aman : Rakhi : Sagar = (70000 x 36) : (105000 x 30) : (140000 x 24) = 12 : 15 : 16.

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29 49860
Q:

Reena and Shaloo are partners in a business, Reena invests Rs, 35,000 for 8 months and Shaloo invests Rs. 42,000 for 10 months, out of a profit of  Rs. 31,570, Reena's share is :

A) 12628 B) 18245
C) 11235 D) 10253
 
Answer & Explanation Answer: A) 12628

Explanation:

Ratio of their shares = (35000 * 8) : (42000 * 10) = 2 : 3.

Reena's share Rs. 31570 * (2 / 5) = Rs. 12628.

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29 47116
Q:

A, B and C enter into a partnership with a capital in which A's contribution is Rs. 10,000. If out of a total profit of Rs. 1000, A gets Rs. 500 and B gets Rs. 300, then C's capital is :

A) 4000 B) 5000
C) 6000 D) 7000
 
Answer & Explanation Answer: A) 4000

Explanation:

A : B : C = 500 : 300 : 200 = 5 : 3 : 2.

Let their capitals be 5x, 3x and 2x respectively.

Then, 5x = 10000  

=>  x = 2000.

C's capital = 2x = Rs. 4000.

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39 42166
Q:

A and B started a business jointly A's investment was thrice the investment of B and the period of his investment was two times the period of investment of B. If B received Rs. 4000 as profit, then their total profit is :

A) 22000 B) 28000
C) 32000 D) 36000
 
Answer & Explanation Answer: B) 28000

Explanation:

Suppose B invested Rs. x for y months. Then, A invested Rs. 3x for 2y months.

So, A : B = (3x * 2y) : (x * y) = 6xy : xy = 6 : 1.

B's profit : Total profit  = 1 : 7.

Let the total profit be Rs. x Then,  1/7 = 4000/x  or x = 28000.

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32 41115
Q:

A and B start a business jointly. A invests Rs. 16,000 for 8 months and B remains in  the business for 4 months, Out of total profit, B claims - of the profit. How much money was contributed by B ?

A) 12000 B) 12800
C) 13000 D) 14500
 
Answer & Explanation Answer: B) 12800

Explanation:

Let the total profit be Rs. x. Then, B = 2x/7 and A = (x - 2x /7) =  5x / 7.

So, A : B = 5x/7 : 2x/7 = 5 : 2.

Let B s capital be Rs. y. Then, (16000 * 8) / ( y * 4) = 5/2  <=> (16000 * 8 * 2) / (5 * 4) = 12800..  

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35 37837
Q:

A and B began business with Rs.3000 and Rs.4000 after 8 months, A withdraws Rs.1000 and B advances Rs.1000 more. At the end of the year, their profits amounted to Rs.630 find the share of A ?

A) Rs. 240 B) Rs. 75
C) Rs. 125 D) Rs. 354
 
Answer & Explanation Answer: A) Rs. 240

Explanation:

The ratio of A & B investments = (3x8 + 2x4):(4x8 + 5x4)

=> 8:13

=> 8/21 x 630 = 240.

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16 36463
Q:

A and B start a business, with A investing the total capital of Rs.50000, on the condition that B pays A interest @ 10% per annum on his half of the capital. A is a working partner and receives Rs.1500 per month from the total profit and any profit remaining is equally shared by both of them. At the end of the year, it was found that the income of A is twice that of B. Find the total profit for the year?

A) Rs. 39000 B) Rs. 49000
C) Rs. 59000 D) Rs. 69000
 
Answer & Explanation Answer: C) Rs. 59000

Explanation:

Interest received by A from B = 10% of half of Rs.50000 = 10% of Rs. 25000 = Rs.2500.

Amount received by A per annum for being a working partner = 1500 x 12 = Rs.18000

Let 'P' be the part of the remaining profit that A receives as his share.

So,total income of A = (Rs.2500 + Rs.18000 + Rs. P )

Total income of B = only his share from the remaining profit = 'P', as  A and B share the remaining profit equally.

 

We know that income of A = Twice the income of B 

So, (2500 + 18000 + P ) = 2(P)

P = 20500

 

Thus, the total profit = 2P + Rs.18000

= 2(20500) + 18000 = Rs.59000.

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40 35235
Q:

X and Y invested in a business. They earned some profit which they divided in the ratio of 2 : 3. If X invested Rs. 40,000, the amount invested by Y is :

A) 20000 B) 40000
C) 60000 D) 80000
 
Answer & Explanation Answer: C) 60000

Explanation:

Suppose Y invested Rs. y. Then 40000/y = 2/3 or y = 60000 .

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23 33496