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:

A's income is Rs 140 more than B's income and C's income is Rs 80 more than D's. If the ratio of A's and C's income is 2:3 and the ratio of B's and D's income is 1:2, then the incomes of A, B, C and D are respectively

A) Rs 260, Rs 120, Rs 320 and Rs 240 B) Rs 300, Rs 160, Rs 600 and Rs 520
C) Rs 400, Rs 260, Rs 600 and Rs 520 D) Rs 320, Rs 180, Rs 480 and Rs 360
 
Answer & Explanation Answer: C) Rs 400, Rs 260, Rs 600 and Rs 520

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Q:

Rithika had Rs 8000. She invested some of it in savings scheme P and the rest of the money in savings scheme Q. She invested for 3 years in savings scheme P and for 2 years in savings scheme Q. savings scheme P offers SI at a rate of 20% pa while savings scheme Q compounded annually at the rate of 30% pa. The interest received from savings scheme P is 930 more than the interest received from savings scheme Q. If Rs 1500 is debited from the invested amount of savings scheme P then find the difference between the amount invested by Rithika in savings scheme P & savings scheme Q.

A) Rs 200 B) Rs 300
C) Rs 400 D) Rs 500
 
Answer & Explanation Answer: D) Rs 500

Explanation:
Amount invested in savings scheme P= Rs X

Amount invested in savings scheme Q= Rs (8000-X)

Compounding 30 % for 2 years , rate

30+30+ (30*30)/100= 69 %

60 % of X-69 % of (8000-X)=930

X= 5000

In savings savings scheme Q = 8000-5000=3000

5000 - 1500 = 3500

Difference =3500-3000=Rs 500

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Q:

A, B and C invest in a business in the ratio 4 : 5 : 7. C is a sleeping partner, so his share of profits will be half of what it would have been if he were a working partner. If they make Rs 36,000 profit of which 25% is reinvested in the business, how much does B get (in Rs)?

A) 7560 B) 10800
C) 8640 D) 9200
 
Answer & Explanation Answer: B) 10800

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Q:

Two partners M and N buy a car. M pays his share of 3/7th of the total cost of the car. M pays Rs. 31,540 less than N. What is the cost of the car?

A) Rs. 2,32,680 B) Rs. 2,03,175
C) Rs. 2,20,780 D) Rs. 1,85,780
 
Answer & Explanation Answer: C) Rs. 2,20,780

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Q:

Two businessmen A and B invest in a business in the ratio 5 : 8. They decided to reinvest 30% of the profit they earned back into the business. The remaining profit they distributed amongst themselves. If A's share of the profit was Rs 87,500 then how much profit (in Rs) did the business make?

A) 227000 B) 250000
C) 375000 D) 325000
 
Answer & Explanation Answer: D) 325000

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Q:

Tapan, Ravi and Trisha shared a cake. Tapan had 1/4 of it, Trisha had 2/3 of it and Ravi had the rest. What was Ravi's share of the cake?

A) 4/7 B) 1/12
C) 1/6 D) 2/6
 
Answer & Explanation Answer: B) 1/12

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Q:

Sunil and Gopal are partners in a business. Sunil invests Rs.20,000 for 9 months and Gopal invests Rs. 30,000 for 12 months. Find the share of Sunil from the total profit of Rs. 60,000.

A) Rs.15000 B) Rs.18000
C) Rs.25000 D) Rs.20000
 
Answer & Explanation Answer: D) Rs.20000

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Q:

A, B and C enter into a partnership, investing Rs. 6000. A invests Rs. 1000 and B and C invests in the ratio of 2:3. Find the profit of C, when the annual profit is Rs. 2400

A) Rs.600 B) Rs.1200
C) Rs.1800 D) Rs.1950
 
Answer & Explanation Answer: B) Rs.1200

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