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PARTNERSHIP

Partnership is one of the most important topic in Quant section. When two or more people invest their money in a business then those persons are called partners. The relationship among partners is called partnership. Money is called capital.
 

* Simpler partnership: If partners invest money for the same time.
 

* Compound Partnership: If partners invest their money for different times.

* Sleeping Partners: The one who invests only money but did not involve in business.

 

* Working Partner: Working partner is active and responsible for handle business.
 

* Profit is directly proportional to Time and investment. Partnership concept is based on percentages and Ratio concepts. In bank exams weightage  of partnership questions are more because the question may be asked through Ratio and Proportion. Time and work concept. So, approximately we can get 1-2 marks in competitive exams either directly or indirectly.
 

Model Questions

1. A and B started a business with investments of Rs.8,000 and Rs.6000 respectively. If total profit earned by them is Rs.21,000. Then find A’s share in profit.
1) Rs.12000            2) Rs.16000         3) Rs.10000            4) Rs.15000          5) Rs.18000
Explanation: A   4P   7P 21000
           B   3P   4P 12000
Ans: 1

 

2. A starts a business with Rs.21,000 and later B joins him with Rs.36,000. After how many months did B join if the profit is distributed in equal ratio?
1) 5         2) 7         3) 6         4) 9         5) 8
Explanation: 7P × 12 = 12P × (12 - x) x = 5 month
Ans: 1

 

3. X and Y enter into a partnership with capitals in the ratio 5 : 6 and at the end of 8 months, X withdraws. If they receive profit in the ratio of 5 : 9. Find how long Y’s capital was used.
1) 8 months              2) 9 months              3) 11 months              4) 12 months             5) 10 months 

Ans: 4
 

4. A, B and C enter into a partnership with capitals in the ratio 5 : 6 : 8. At the end of the business term, they received the profit in the ratio 5 : 3 : 12. Find the ratio of time for which they contributed their capitals.
1) 2 : 1 : 3          2) 1 : 2 : 3          3) 2 : 3 : 1           4) 3 : 2 : 1          5) 2 : 5 : 3

Ans: 1

 

5. A started a business with Rs.20,000 and B joined after some time with Rs.25,000. If A and B share the profit in the ratio of 1 : 2 respectively, then what is the ratio of the time period of investment for A and B respectively?
1) 1 : 2                2) 5 : 6                3) 5 : 8           4) 5 : 7                5) 3 : 7 

 Ans: 3 

 

6. A, B and C are three partners in a business.  The profit share of A is 3/16 of the total profit and B’s share is 1/4  of the total profit. If C receives Rs.243, then the amount received by B will be....
1) Rs.90            2) Rs.96            3) Rs.108            4) Rs.120         5) Rs.130
Explanation: A  3P;    B  4P;    C  9P          
                          9P 243
                          4P 108
Ans: 3

 

7. A, B and C become partners in a business. A contributes 1rd/3 of the capital for 1th/4  of the time. B contributes 1th/5 of the capital for 1th/6 of the time and C the rest of the capital for the whole time. If the profit is Rs.1,820, then the A’s share in profit is....
1) Rs.130         2) Rs.260         3) Rs.292           4) Rs.304         5) Rs.405 

Ans: 2

 

8. A started a business by investing some money and B invested Rs.5,000 more than that of A. A remained in business for 5 months and B remained in business 1 month more than A, out of the total profit of Rs.26,000, B got Rs.6,000 more than A. Find the capitals invested A and B.
1) Rs.29,000, Rs.18,000                 2) Rs.25,000, Rs.30,000
3) Rs.15,000, Rs.10,000                4) Rs.15,000, Rs.20,000
5) Rs.12,000, Rs.24000

Ans: 4

 

9. Three partner A, B and C started a business by investing Rs.48,000 each after 6 months A left the business after 10 months, B left the business and after 12 months C left the business. If total earned profit is Rs.5,250, then find the share of A, B and C.
1) Rs.1,125, Rs.1,825, Rs.2,250             2) Rs.1,125, Rs.1,800, Rs.2,200
3) Rs.1,125, Rs.1,875, Rs.2,250            4) Rs.1,175, Rs.1,256, Rs.2,350
5) None of the above 

Explanation:     shares
A   1 × 6    3P     Rs.1125
B   1 × 10   5P    Rs.1875
C   1 × 12   6P     Rs.2250 

14P 5250
1P 375      
Ans: 3

 

10. A and B enter into a partnership with Rs.40,000 and Rs.60,000 respectively. C joins x months before end of the year with the capital of Rs.90,000 and B leaves them after x months from the start of the year. If they share the profit the ratio of 8 : 6 : 9 then find the value of x.
1) 2 months        2) 5 months        3) 6 months           4) 9 months     5) 3 months

 

11. Four milkmen rented a pasture. M put to graze 16 cows for 3 months and N 20 cows for 4 months, O 18 cows for 6 months and P 42 cows for 2 months. If M’s share of rent be Rs.2,400, then find the rent paid by O is.....
1) Rs.3,200       2) Rs.4,200       3) Rs.4,000           4) Rs.5,400        5) Rs.4,800
Explanation: M   16 × 3   12P
              N   20 × 4   20P
              O   18 × 6   27P
              P   42 × 2   21P
12P 2400
27 P 5400          
Ans: 4

 

12. A, B and C hired a car for Rs.4,160. A used it for 7 hours. B for 8 hours and C used it for 11 hours. The rent shared by A will be....
1) Rs.960       2) Rs.1120       3) Rs.1260          4) Rs.1,760           5) Rs.1520
Explanation:
A    7P
B    8P
C    11P  
26P 4160
7P 1120  
Ans: 2

 

13. Ajay, Ravi and Arun are partners. Ajay receives 5/9  of the profit and rest is shared by Ravi and Arun equally. Ajay income increased by Rs.225 when the profit rises from 8% to 13%. Find the individual capital invested by Arun and Ravi each.
1) Rs.1700       2) Rs.1500       3) Rs.1800          4) Rs.1336          5) Rs.1545
Explanation:
Ajay   5P  
Ravi   2P  
Arun   2P
Ajay Capital 5% 225        100% 4500 = 5P
1800 = 2P (Arun and Ravi Capital)    
Ans: 3

 

14. Two partners invest Rs.1,25,000 and Rs.85,000 respectively in a business and agree that 60% of the profit should be divided equally between them and the remaining profit is to be divided into ratio of their capitals. If one partner gets Rs.3000 more than the other. Find the total profit made in the business.
1) Rs.37395          2) Rs.39375          3) Rs.37495         4) Rs.39475         5) Rs.42597
Explanation: I 25P    8P 3000
II 17P   42P 15750
∴ Total profit 40% 15750
100% 39375
Ans: 2

 

15. Anand and Pramod entered into a partnership with Rs.36000 and Rs.54000 respectively. Pramod was sleeping partner. At the end of the year they received Rs.24000 each. Find the salary of Anand.
1) Rs.8000       2) Rs.10000       3) Rs.9000         4) Rs.20000        5) Rs.15000
Explanation: A   2P   3P 24000
P   3P    2P 16000
Anand salary = 24000 − 16000 = Rs.8000
Ans: 1

 

16. A and B are partners in a firm. A invests Rs.15,000 and B invests Rs.25000. ‘A’ is the working partner and gets 20% of the profit for his contribution in the management of the form ‘B’ is the sleeping partner. If the profit is Rs.475, find the share of B.
1) Rs.237.5       2) Rs.257.5       3) Rs.247.5           4) Rs.238.5       5) Rs.250.5
Explanation: A   3P B   5P 20% of 475 = 95 (Salary)
Remaining amount = 475 - 95 = 380
8P 350;  5P 237.5  
Ans: 1


Points to be remember

Profit sharing ratio: 

Posted Date : 28-07-2021

 

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