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Partnership Tricks and Questions

Partnership

 Important Facts and Tricks of Partnership:


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

The Ratio of Division of Gain/ Loss

·        When Investment of all the partners is for the same period, the gain or loss is distributed in the ratio of their investment   

 Example: As Let A and B invests Rs X and Rs Y for a year, then at the end

A’s share of profit: B’s share of profit = X :Y

·        When investments are for a different period, then equivalent capitals are calculated for a unit of time by taking (capital * a number of units of time). Now, gain or loss is divided in the ratio of these capitals.

Example: Let A invest 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


Profit = Investment * Time 

PA/PB= (I A * T A)/ (I B * TB)



1.   The partners A, B, C invest Rs. 26000, Rs. 34000 and Rs. 10000 respectively in a business. Out of a profit of Rs. 3500, B's share is

        a)  Rs. 1300
   b)  Rs. 1700
   c)   Rs. 500
   d)  Rs. 1500

 Solution:   

Partner A invest = Rs. 26000

Partner B invests= Rs. 34000

Partner C invests = Rs. 10000

 Take all investment in ratio

=26000: 34000:10000
= 13: 17:5

Adding ratios and supposing P as net profit

35*P = 3500
P= Rs.100
B’share profit = 17 * P = 17 *100= 1700

B option is correct
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2.   Karim invests Rs. 30,000 for one year in a shop. How much his partner Raunaq should invest in order that the profit after one year may be in the ratio 2:3?

a)   Rs. 20000
b)  Rs. 400000
c)   Rs. 45000
d)  Rs. 18000

Solution:

Karim Invest I(K)= Rs. 30,000

Time of investment T(K) = 12 months

Raunaq Invest I(R) = Rs?

Time of investment T(R) = 12 months

Using Profit = Investment * Time

P (K): P(R) = 2:3 = I (K) * T (K): I(R) * T(R)
I (R) = (30, 000 * 12): (I(R) * 12)    
IR= Rs. 45,000

C option is correct
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3.   Rs. 700 is divided among A,B and C so that A receives half as much as B and B half as much as C. then C' share is

a)   Rs. 200
b)  Rs. 300
c)   Rs. 400
d)  Rs. 600

Solution:

A receives half as much as B

A = ½ B

B half as much as C

B= ½ C

A: B: C= 1:2:4 =700
7x= 700
X=100

Putting in ratios

C share = 4*X = 4 * 100= Rs. 400

C option is correct
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4.   Manoj got Rs. 6000 as his share out of a total profit of Rs. 9000 which he and Ramesh earned at the end of one year. If Manoj invested Rs. 20000 for 6 months, whereas Ramesh invested his amount for the whole year, what was the amount Invested by Ramesh?

a)   Rs. 30,000
b)  Rs. 40,000
c)   Rs. 10,000
d)  Rs. 5000

Solution:

Total Profit = Rs. 9000

Manoj share of Profit = Rs. 6000

Ramesh share of Profit = 9000- 6000= Rs. 3000

Ramesh Time of Investment T(R) = 12 months

Manoj Invested I (M) = Rs. 20,000

 Time of investment T (M) = 6 months

Ratio of Profits P (M): P (R) = 6000: 3000 = 2:1

Profit = Investment * Time

2: 1 = (20,000 *6):  I (R) * 12
I(R) = Rs. 5000

D is the right option

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5.   A. B, and C are three partners in a business. If twice the investment of A is equal to thrice the capital of B and the capital of B is four times the capital of C, out a total profit of Rs 5940, the share of C is


a)   Rs. 700
b)  Rs. 900
c)   Rs. 740
d)  Rs. 540

Solution:

If twice the investment of A is equal to thrice the capital of B

2A=3B

The capital of B is four times the capital of C

B= 4C

A: B: C= 6:4:1

Total Profit = 5940

6:4:1 = 5940
11 X= 5940
X= 540
C share = 1* X = Rs.540

D is the right option

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7.   A and B invest in a business in the ratio 3:2. if 5% of the total profit goes to charity and A's share is Rs. 855, total profit is

         a)  Rs. 1576
    b)  Rs. 1537.50
    c)   Rs. 1500
    d)  Rs. 1425


Solution:

Investment of A and B = I (A): I (B) = 3:2

Total Profit - total charity = Left Profit

100- 5% = 95% of the left profit that to be shared between A and B

Investment of A : B = 3: 2

Profit= Investment * Time

A’s share = 855/3 = 285

B’s share = 2 * 285 = 570

5% of A’s share = 5* 285 = 1425

95% of the total profit= 1425

Total profit = Rs. 1500

C option is right

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For more Partnership based Problems, visit Pratice Papers