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:

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

Report Error

View Answer Report Error Discuss

Filed Under: Partnership

18 16275
Q:

A, B and C enter into a partnership and their shares are in the ratio 1/2 : 1/3 : 1/4. After 2 months, A withdraws half of his capital and after 10 months, a profit of Rs. 378 is divided among them. What is B's share ?

A) 144 B) 169
C) 225 D) 339
 
Answer & Explanation Answer: A) 144

Explanation:

Ratio of initial investments = 1/2 : 1/3 : 1/4 = 6 : 4 : 3.

 

Let their initial investments be 6x, 2x and 3x respectively.

 

A : B : C = (6x * 2 + 3x * 10) : (4x * 12) : (3x * 12) = 42 : 48 : 36 = 7 : 8 : 6.

 

B's share = Rs. (378*8/21)  = Rs. 144.

Report Error

View Answer Report Error Discuss

Filed Under: Partnership

24 16117
Q:

Ram and Raj start a business with investments of Rs. 2500 and Rs. 2250 respectively. After 2 months, Ram takes out Rs.1250 from his capital. After 1 more month, Raj takes out Rs.750 of his capital while Rakesh joins them with a capital of Rs. 3500. At the end of 6 months, they earn a profit of Rs. 2540. Which of the following is the share of each member in the profit ?

A) Ram - Rs. 800, Raj - Rs. 900, Rakesh - Rs. 840 B) Ram - Rs. 900, Raj - Rs. 800, Rakesh - Rs. 840
C) Ram - Rs. 840, Raj - Rs. 920, Rakesh - Rs. 840 D) Ram - Rs. 800, Raj - Rs. 900, Rakesh - Rs. 940
 
Answer & Explanation Answer: A) Ram - Rs. 800, Raj - Rs. 900, Rakesh - Rs. 840

Explanation:

Initial investment of Ram = Rs.2500.
After 2 months he withdraw Rs.1250 from his capital.
Therefore, we have, Ram invested Rs.2500 for 2 months and Rs.(2500-1250=) 1250 for 4 months.

Raj invested Rs. 2250 for 3 months and Rs.(2250-750=) 1500 for 3 months.

And, Rakesh invested Rs.3500 for 3 months;

Their investing ratio:
Ram:Raj:Rakesh = (2500x2 + 1250x4):(2250x3 + 1500x3):(3500x3)
= (10,000):(11,250):(10,500) = 1000:1125:1050 = 40:45:42

Total profit for 6 months = Rs.2540
Therefore, Ram's share = Rs.(2540 x 40/(40+45+42)) = Rs.(2540 x 40/127) = Rs.800
Raj's share = Rs.(2540 x 45/127) = Rs.900
Rakesh's share = Rs.(2540 x 42/127) = Rs.840

Report Error

View Answer Report Error Discuss

Filed Under: Partnership
Exam Prep: AIEEE , Bank Exams , CAT , GATE , GRE
Job Role: Bank Clerk , Bank PO

8 15329
Q:

A and B entered into a partnership investing Rs. 13,000 and Rs. 12,000 respectively.After 3 months, A withdrew Rs. 5000 while B invested Rs. 5000 more, After 3 more months, C  joins the business with a capital of Rs. 21,000, The share of B exceeds that of C, out of a total profit of Rs. 26,400 after one year by

A) 3500 B) 3600
C) 3700 D) 3800
 
Answer & Explanation Answer: B) 3600

Explanation:

A : B : C = (16000 * 3 + 11000 * 9) : (12000 * 3 + 17000 * 9) : (21000 * 6)

= 147 : 189 : 126

= 7 : 9 ; 6.

Difference of B and C's shares = Rs.  ( 26400 * 9/22 - 26400 * 6/22 ) = Rs. 3600.

Report Error

View Answer Report Error Discuss

Filed Under: Partnership

12 14017
Q:

Three friends had dinner at a restaurant. When the bill was received, Akshitha paid 2/3 as much as Veena paid and Veena paid 1/2 as much as Lasya paid. What fraction of the bill did Veena pay ?

A) 11/3 B) 2/13
C) 3/11 D) 13/4
 
Answer & Explanation Answer: C) 3/11

Explanation:

Let Veena paid x,
so Akshitha paid 2x/3 , and Lasya paid 2x,
So total bill paid is given by
x+(2x/3) +2x = 1, we get
i.e. x = 3/11

Report Error

View Answer Report Error Discuss

Filed Under: Partnership
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Bank Clerk , Bank PO

14 13707
Q:

Vishal invested 10% more than Trishul. Trishul invested 10% less than Raghu. If the total sum of their investments is Rs. 5780, how much amount did Raghu invest ?

A) Rs.2010 B) Rs.2200
C) Rs.2000 D) Rs.2100
 
Answer & Explanation Answer: C) Rs.2000

Explanation:

Let money invested by Raghu = Rs. x
Money invested by Trishul = 9/10 x = 0.9x
Money invested by Vishal = 9/10x * 110/100 = 0.99x
Also, x+0.9x+0.99x = 5780
= x= 5780/2.89 = 2000

Therefore, amount invested by Raghu is Rs. 2000.

Report Error

View Answer Report Error Discuss

Filed Under: Partnership
Exam Prep: AIEEE , Bank Exams , CAT , GATE , GRE
Job Role: Analyst , Bank Clerk , Bank PO

12 13377
Q:

A sum of Rs. 427 is to be divided among A, B and C in such a way that 3 times A’s share, 4 times B’s share and 7 times C’s share are all equal. The share of C is ?

A) 64 B) 76
C) 84 D) 98
 
Answer & Explanation Answer: C) 84

Explanation:

Given total sum = Rs. 427
And given that 3 times A’s share, 4 times B’s share and 7 times C’s share are all equal.
=> 3A = 4B = 7C
But given
=> A + B + C = 427
Now express A and B in terms of C i.e
=> (7C/3) + (7C/4) + C = 427
=> C = 84

Report Error

View Answer Report Error Discuss

Filed Under: Partnership
Exam Prep: AIEEE , Bank Exams , CAT , GATE , GRE
Job Role: Bank Clerk , Bank PO

13 12852
Q:

The ratio of investments of two partners A and B is 7:5 and the ratio of their profits is 7:10. If A invested the money for 5 months, find for how much time did B invest the money ?

A) 11 months B) 9 months
C) 7 months D) 10 months
 
Answer & Explanation Answer: D) 10 months

Explanation:

7x5: 5xk = 7:10
k = 10 months

Report Error

View Answer Report Error Discuss

Filed Under: Partnership
Exam Prep: AIEEE , Bank Exams , CAT , GATE
Job Role: Bank Clerk , Bank PO

7 12467