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Quiz: Partnership

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Number of Questions: 15

Question: 1 -

A's and B's shares in a business are in the ratio of 5:3. If A has invested Rs. 70000 for 12 months, for what period B has invested Rs. 60000?

Options:

  1. 8.4 months

  2. 7 months

  3. 8 months

  4. 7.4 months

    5. Answer:

    8.4 months
    Solution:

    A's capital be C1 = 70000

    B's capital be C2 = 60000

    A's time be T1= 12 months

    Let B's time be T2 = X months

    A's share: B's share = 5:3

    Apply formula: Apti Partnership

    Apti Partnership

    300000 X = 2520000

    Apti Partnership

Question: 2 -

Suresh started a business by investing a certain amount of money. Rakesh joined him after four months by investing Rs. 50000. If after one year Suresh and Rakesh share the profit in the ratio of 10:8, how much capital did Suresh invest?

Options:

  1. Rs. 47000

  2. Rs. 42000

  3. Rs. 44000

  4. Rs. 41666.7

    5. Answer:

    Rs. 41666.7
    Solution:

    Let Suresh's capital be C1 = X

    Rakesh's capital be C2 = 50000

    Suresh's Time be T1 = 12 months

    Rakesh's Time be T2 = 8 months

    Suresh's profit: Rakesh's profit = 10:8

    Apply formula: Apti Partnership18

    Apti Partnership18

     

    X = 41666.7

Question: 3 -

A, B and C are partners. They have invested Rs.35000, Rs. 25000 and 10,000 respectively for the same period. If the total profit is Rs. 18000, find the share of A.

Options:

  1. Rs. 9000

  2. Rs. 8000

  3. Rs. 8500

  4. Rs. 9500

    5. Answer:

    Rs. 9000
    Solution:

    A's capital be C1= 35000

    B's capital be C2= 25000

    C's capital be C3= 10000

    Profit = 18000

    T1=T2=T3

    Apply formula: Apti Partnership14

    Apti Partnership15

    Solution 2:

    Ratio of their profits;

    Profit of A: Profit of B: Profit of C = C1*T1: C2*T2:C3*T3

    Time is same for A, B and C.

    So, Profit of A: Profit of B: Profit of C = C1: C2: C3

    = 35000:25000:10000

    = 7:5:2

    A's share = (A's ratio/ sum of all three ratios)* total profit

    Apti Partnership16

Question: 4 -

Sohan started a business with a capital of Rs. 80000. After 6 months Mohan joined as a partner by investing Rs. 65000. After one year they earned total profit Rs. 20000. What is share of Sohan in the profit?

Options:

  1. Rs. 14222.2

  2. Rs. 5222.2

  3. Rs. 6222.2

  4. Rs. 6777.7

    5. Answer:

    Rs. 14222.2
    Solution:

    Sohan's capital be C1 = 80000

    Mohan's capital be C2 = 65000

    Sohan's time be T1 = 12 months

    Mohan's time be T2 = 6 months

    Profit earned = 20000

    Apply formula:Apti Partnership7

    Therefore, Sohan's share = Apti Partnership8

    Apti Partnership

    Apti Partnership-q10

    Solution: 2

    Ratio of their profits = Apti Partnership11

    Apti Partnership-q12

    Therefore, Profit of Sohan: Profit of Mohan = 32:13

    Then, Sohan's share =Apti Partnership7* 20000= 14222.2

Question: 5 -

A and B enter into a partnership by investing Rs.14000 and Rs. 16000 respectively. After 8 months, C joins them with a capital of Rs.12000. Find the share of C in a total profit of Rs. 57000 after 2 years.

Options:

  1. Rs.13500

  2. Rs.13000

  3. Rs.12500

  4. Rs.12000

    5. Answer:

    Rs.12000
    Solution:

    A's capital be C1 = 14000

    B's capital be C2 = 16000

    C's capital be C3 = 12000

    A's time be T1 = 24 months

    B's time be T2 = 24 months

    C's time be T3 = 16 months

    Profit: 57000

    Apply formula: Profit of A: Profit of B: Profit of C = C1*T1: C2*T2:C3*T3

    = 14000*24: 16000*24:12000*16

    = 336000:384000:192000

    = 7: 8: 4
    C's share = Apti Partnership * 57000 = 12000 

    Solution 2:
    Apply formula : Apti Partnership

    Apti Partnership