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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:

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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Q:

A and B are partners in a business. A contributes 1/4 of the capital for 15 months and B received 2/3 of the profit. For how long B's money was used ?

A) 3 months B) 6 months
C) 10 months D) 12 months
 
Answer & Explanation Answer: C) 10 months

Explanation:

Let the total profit be Rs. z. Then,

B's share = Rs. 2z/3,  A's share = Rs. ( z - 2z/3 ) = Rs. z/3.

A : B = z/3 : 2z/3 = 1:2

Let the total capital be Rs, X and suppose B's money was used for x months. Then.

(1(x) / 4 * 15) / (3x) / 4 * y) = 1/2 <=> y = (15 * 2 / 3) = 10 .

 Thus, B's money was used for 10 months.

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122 52424
Q:

P and Q started a business investing Rs, 85,000 and Rs. 15,000 respectively. In what ratio the profit named after 2 years bo divided between P and Q respectively ?

A) 17:23 B) 17:3
C) 17:33 D) 3:4
 
Answer & Explanation Answer: B) 17:3

Explanation:

P : Q = 85000 : 15000 = 86 : 15 = 17 : 3 .

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Q:

Three partners shared the profit in a business in the ratio 4:6:8. They had partnered for 12 months, 8 months and 6 months respectively. What was the ratio of their investments?

A) 4:6:8 B) 4:7:8
C) 4:8:16 D) 4:9:16
 
Answer & Explanation Answer: D) 4:9:16

Explanation:

Let their investments be Rs. x for 12 months, Rs. y for 8 months and Rs. z for 6 months respectively.

Then, 12x : 8y : 6z = 4 : 6 : 8

Now, 12x/8y = 4/6   <=>   9x=4y   <=>   y=9x/4

And, 12x/6z = 4/8   <=>   4x=z     <=>    z=4x

Therefore, x : y: z  =  x : 9x/4: 4x  =  4 : 9 : 16

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