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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:

k, l, m together started a business. k invested Rs.6000 for 5 months l invested Rs.3600 for 6 months and m Rs.7500 for 3 months. If they get a total profit of Rs.7410. Find the share of l ?

A) Rs. 1640 B) Rs. 2500
C) Rs. 2160 D) Rs. 3000
 
Answer & Explanation Answer: C) Rs. 2160

Explanation:

=> 60x5 : 36x6 : 75x3

=> 100 : 72 : 75

=> 72/247 x 7410 = Rs. 2160

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5 8201
Q:

Three graziers A,B and C rent a piece of pasture for a month. A puts in 27 cattle for 19 days, B 21 for 17 days and C 24 for 23 days. If at the end of the month the rent amount to Rs.237, how much ought to be paid by each.

Answer

A's cattle = 27 x 19 = 513


B's cattle = 21 x 17 = 357


C's cattle = 24 x 23 = 552


Ratio of cattle = 513 : 357 : 552


                    = 171 : 119 : 184


 


payment to be made by A = \inline 237\times \frac{171}{474}


                                     = Rs.85.50


payment to be made by B = \inline 237\times \frac{119}{474}


                                     = Rs.59.50


payment to be made by C = \inline 237\times \frac{184}{474}


                                     = Rs.92

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Subject: Partnership

7 7803
Q:

K and L start the business, with L investing the total capital of Rs. 40,000 on the condition that K pays L interest @ 8% per annum on his half of the capital. L is a working partner and receives Rs.1200 per month from the total profit and any profit reamaining is equally shared by both of them. At the end of the year, it was found that the income of L is twice that of K. Find the total profit for the year ?

A) Rs.44000 B) Rs.46400
C) Rs.480800 D) Rs.46000
 
Answer & Explanation Answer: B) Rs.46400

Explanation:

Interest received by L from K = 8% of half of Rs.40,000  

⇒8100×20000=1600  

 

Amount received by L per annum for being a working partner = 1200 x 12 = Rs.14,400

 

Let 'A' be the part of remaing profit that 'L' receives as his share.

 

 Total income of 'K' = only his share from the reamaing profit

 

                              = 'A', as both share equally.

 

Given income of L = Twice the income of K

 

--> (1600 + 14400 + A ) = 2A

--> A= Rs.16000

Thus total profit = 2A + Rs.14,400= 2(16000) + 14400 

                                                  = 32000 +14400 = Rs.46,400.

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13 7480
Q:

Ravi and Ramu are partners in a business.Ravi contributes 1/6 of the capital for 16 months and Ramu received 2/3 of the profit. For how long Ramu's money was used ?

A) 11 months B) 10 months
C) 9 months D) 8 months
 
Answer & Explanation Answer: D) 8 months

Explanation:

Let the total Profit be Z.
Ramu's profit share is 2/3 of profit (i.e 2Z/3)
Ravi's profit is (Z-2Z/3) =Z/3
Hence the profit ratio is , Ravi : Ramu = Z/3 : 2Z/3 = 1:2

Let total Capital be Rs.X and Ramu has contributed for Y months.Since Ramu's profit share is 2/3, his invest share will be 2/3 in capital.

Ravi's invest for 16 months / Ramu's invest for Y months = Ravi's profit share / Ramu's profit share
i.e. (X/6 x 16) / (2X/3 x Y) = 1/2

Solving the above equation, we get Y = 8.
So Ramu's money has been used for 8 months.

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5 7159
Q:

Rushi and Arun are two business partners. They invest their capital in the ratio 7 : 9. After 6 months, a third person Ram joins them with a capital of two third of that of Arun. After a year, profit share of Rushi was Rs. 5600, then find total profit?

A) 26,250 B) 19,200
C) 18,650, D) 15,200
 
Answer & Explanation Answer: D) 15,200

Explanation:

Ratio of investment of all the three members = (7 x 12) : (9 x 12) : (2/3 x 9 x 6)

= 7 : 9 : 3

Given Rushi's one year profit = Rs. 5600

=> Let the total profit = Rs. P

Then,

P x 7/19 = 5600

Total profit P = 19 x 5600/7 = Rs. 15,200.

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8 6950
Q:

A, B and C started a company where their initial investments was in the ratio of 2:3:4. At the end of 6 months, A invested an amount such that his total capital became equal to B's initial capital investment. If the annual profit of B is Rs. 3000 then what is the total profit of the company ?

A) Rs. 9500 B) Rs. 10600
C) Rs. 7500 D) Rs. 8900
 
Answer & Explanation Answer: A) Rs. 9500

Explanation:

Given initial investments ratio = 2 : 3 : 4

At the end of 6 months, A invested an amount such that his total capital became equal to B's initial capital investment

i.e, upto 6 months A's investment is 2 and after 6 months his invstment is 3 = B's investment

Now, Ratio of investment for one year

=> A : B : C = (2×6 + 3×6) : (3×12) : (4×12)

= 30 : 36 : 48

= 5 : 6 : 8

But given B's profit = 3000

=> 6 ratio = 3000

For total => 19 ratio = Rs. 9500.

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7 6464
Q:

Rs.1500 is divided into two parts such that if one part is invested at 6% and the other at 5% the whole annual interest from both the sum is Rs.85. How much was lent at 5% ?

A) 500 B) 600
C) 450 D) 550
 
Answer & Explanation Answer: A) 500

Explanation:

Let the lent at 5% be 'A'

(A x 5 x 1)/100 + [(1500 - A)x 6 x 1]/100 = 85

5A/100 + 90 – 6A/100 = 85

A/100 = 5

=> A = 500

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6 6406
Q:

Rs. 50000 is divided into two parts One part is given to a person with 10% interest and another part is given to a person with 20 % interest. At the end of first year he gets profit 7000 Find money given by 10% ?

A) Rs. 20,000 B) Rs. 10,000
C) Rs. 30,000 D) Rs. 40,000
 
Answer & Explanation Answer: C) Rs. 30,000

Explanation:

Let first part is 'K' and second part is 'L'
then K + L = 50000---------eq1
Total profit = profit on x + profit on y
7000 = (K x 10 x 1)/100 + (L x 20 x 1)/100
70000 = K + 2L-----------------------------------eq2
70000 = 50000 + L
so L = 20000 then K = 50000 - 20000 = 30000
first part on 10% is = Rs.30000

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5 6335