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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:

What is the difference in the shares of profit between P and Q in a joint business at the end of one year ?

a. P Invested Rs. 80,000 and withdrew Rs. 20,000 after 6 months.

b. Q joined four months after the start of business.

c. Q's amount was 80% of P's amount during the last six months.

A) Only a B) Only c
C) Both a & b D) Data is not sufficient
 
Answer & Explanation Answer: D) Data is not sufficient

Explanation:

a. P's investment = (80000 x 6 + 60000 x 6) = 840000 for 1 month.

b & c. Q's investment = 80% of Rs. 60000 for 8 months.

= Rs.(48000 x 8) for 1 month = 384000 for 1 month

P : Q = 840000 : 384000 = 35 : 16.

But, the total profit is not given, so data is inadequate.

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2 3925
Q:

A, B & C started a business and invested in the ratio 7:6:5. Next Year, they increased their investment by 25%, 20% and 15%, respectively. In what ratio should profit earned only during 2ndyear be distributed?

A) 155:144:175 B) 155:124:95
C) 135:147:152 D) 175:144:115
 
Answer & Explanation Answer: D) 175:144:115

Explanation:

Let A’s investment be= 7a
Let B’s investment be= 6a
Let C’s investment be= 5a
Their investment in 2ndyear:= (125% of 7a): (120% of 6a) : (115% of 5a) = 175 : 144 : 115

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3 3919
Q:

Two persons A and B invested in a business with 115000and 75000 rupees respectively. They agree that 40% of theprofit should be divided equally among them and rest isdivided between them according to their investment. If Agot 500 rupee more than B, then the total profit is

A) 3599.34 B) 699.34
C) 3958.34 D) 999.34
 
Answer & Explanation Answer: C) 3958.34

Explanation:

Ratio in which the profit will divide – 23:15. Let theprofit be P

Now, [(23/38) - (15/38)] x (60/100) x P = 500

P = 3958.34

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3 3505
Q:

A and B invest in a business in the ratio 4 : 5. After 10 months B leaves the business after withdrawing his investment. In the first year the business made a profit of Rs 49,000. What is B's share (in Rs) of this profit?

A) 25000 B) 20000
C) 18000 D) 22000
 
Answer & Explanation Answer: A) 25000

Explanation:
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2 3324
Q:

Rs. 2018 are to be divided among P, Q and R in such a way that if P gets Rs. 5 then Q must get Rs. 12 and if Q gets Rs. 4 then R must get Rs. 5.50. The share of R will exceed that of Q by

A) Rs. 127 B) Rs. 271
C) Rs. 721 D) Rs. 217
 
Answer & Explanation Answer: B) Rs. 271

Explanation:

ATQ,

P : Q = 5 : 12 = 10 : 24

Q : R = 4 : 5.5 = 24 : 33

P:Q:R = 10 : 24 : 33

Sum of the ratios = 10 + 24 + 33 = 67

Difference between the share of R & Q

= (33-24/67 x 2018)

= 9/67 x 2018

= Rs. 271.

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9 3233
Q:

P starts a business with Rs 14000. After 8 months Q joins P with Rs 8000. After 3 years, what will be the ratio of the profit of P and Q?

A) 12 : 5 B) 9 : 4
C) 14 : 9 D) 15 : 8
 
Answer & Explanation Answer: B) 9 : 4

Explanation:
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6 2966
Q:

Rs 60500 is divided among A, B and C such that A receives 2/9 as much as B and C together and B receives 3/7 of as much as A and C together. What is the share of C (in Rs)?

A) 29850 B) 30120
C) 31350 D) 37250
 
Answer & Explanation Answer: C) 31350

Explanation:
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11 2892
Q:

A and B started a partnership business investing in the ratio of 3 : 8. C joined them after 4 months with an amount equal to 3/4th of B. What was their profit (in Rs) at the end of the year if C got Rs 24,000 as his share?

A) 120000 B) 150000
C) 90000 D) 180000
 
Answer & Explanation Answer: C) 90000

Explanation:
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3 2797