Partnership - Online Quiz



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Following quiz provides Multiple Choice Questions (MCQs) related to Partnership. You will have to read all the given answers and click over the correct answer. If you are not sure about the answer then you can check the answer using Show Answer button. You can use Next Quiz button to check new set of questions in the quiz.

Questions and Answers

Q 1 - With an amount of Rs. 25000 started business by ajay. After 3 month, vijay joined the business by investing amount of Rs. 30000. If profit of the firm is 19000 at the end of the year then what should be the share of Ajay in profit?

A - Rs. 9423

B - Rs. 10250

C - Rs. 12500

D - Rs. 10000

Answer : D

Explanation

Ajay : Vijay = (25000*12: 30000*9) = 300000: 270000 = 10: 9
Share of Ajay = Rs. (19000* 10/19) = Rs. 10000

Q 2 - There are three partners in a firm and condition of investment by them is that at the beginning time investment done by A and after the period of 6 month B invested double than A and C invested 8month later but 3 times in the comparision of A. If annual profit Rs. 27000 is announced then what will be the share of profit in the favour of C?

A - Rs. 8625

B - Rs. 9000

C - Rs. 10800

D - Rs. 11250

Answer : B

Explanation

If x , 2x, 3x amount invested by A, B and C respectively.
A: B: C = (x*12): (2x*6): (3x:4) = 12x:12x: 12x = 1:1:1
Share of C in profit = Rs. (27000* 1/3) = Rs. 9000.

Q 3 - What should be the ratio of the capital invested by A, B and C if given condition is that half of B capital should be equal to A?s capital and C capital should be 1/3 of B?s capital .

A - 2:1:3

B - 6:3:1

C - 3:4:5

D - 1:2:3

Answer : B

Explanation

If  6x is the capital of A , then B  and C capital will be 3x and x  . Then the capital invested  ratio between A: B:C  is  6:3:1

Q 4 - The condition of investment in a firm are A invest3 times in the comparison of B and B invest 2/3 of C investment. Find out the capital ratio between three partner?

A - 3:9:2

B - 6:10:15

C - 5:3:2

D - 6:2:3

Answer : D

Explanation

Suppose Rs. x invested by C . Then , 2x/3 invest by B and Rs. 2x invested by A.
A: B: C = 2x: 2x/3 : x = 6x:  2x : 3x = 6: 2: 3.

Q 5 - With the amount of Rs. 4500 A started business but after some time B also join this business with Rs. 5400 investment and profit sharing ratio between them is 2:1 then find out the period B join the business after?

A - 5 month

B - 2 month

C - 3 month

D - 7 month

Answer : D

Explanation

If for the x months , B remains in the business.
A: B =  ( 4500*12) : (5400*x) = (54000 : 5400x) = (10:1)
∴ 10/x = 2/1 ⇒ 2x = 10 ⇒ x= 5
Thus , we can say that B remains in the business for the period of 5 months  then on the basis of that statement we can say after the period of 7month B join the business.

Q 6 - An amount of Rs. 27000, 81000 and 72000 invested by A, B and C. Rs. 36000 was the share in profit of B , then find out the total profit of the firm at the end of the year?

A - Rs. 108000

B - Rs. 116000

C - Rs. 80000

D - Rs. 92000

Answer : C

Explanation

A:B:C = 27000 : 81000: 72000 = 3: 9: 8
If x is the total profit of the year .
Then , the share of B in profit = Rs. (x* 9/20)
∴ 9x/20 = 36000 ⇒ x = 36000*20/ 9 = 80000.
Hence,  Rs. 80000 earned by B as a profit.

Q 7 - In the ratio of 5:7:6 money was invested by three partners A ,B and C . 26% , 20% and 15% investment increased by them respectively in the next year. What should be the ratio of profit in the second year?

A - 21:28:23

B - 26:20:15

C - 31:27:21

D - none of these

Answer : A

Explanation

If rs. 5x,7x and 6x is the investment  in the first year by A: B:C . then
the investment in the second year by A ,B and C = (126% of 5x ), (120% of 7x) and (115% of 6x)
(126/100*5x) : (120/100*7x) : (115/100*6x) = 630 : 840: 690 =  21: 28: 23

Q 8 - Mr X, Mr Y and Mr Z invest Rs 1500, Rs 2000 and Rs 2500 respectively in a business. The profit earned is Rs 1200. Find the share of each in the profit.

A - 300, 400, 500

B - 250, 450, 500

C - 200, 300, 700

D - 600, 300, 300

Answer : A

Explanation

Ratio of investments = X : Y : Z
= 1500 : 2000: 2500
= 3 : 4 : 5
Sum of the ratios = 3 + 4 + 5 = 12
Share in the profit:

For Mr X = (3/12)*1200 = Rs 300
For Mr Y = (4/12)*1200 = Rs 400
For Mr Z = (5/12)*1200 = Rs 500

Q 9 - Vinay and Harish start a business with contributions of Re 15000 and Re 20000 respectively. After 4 months Rajesh also joins them with contribution of Re 22500. After 9 months Harish withdraws his contribution. At the end of the year there is a profit of Re 9000. Find the share of each in the profit.

A - 3000 each

B - 3000, 2500, 3500

C - 3200, 2700, 3500

D - None of these

Answer : A

Explanation

The ratio of equivalent capital is = Vinay : Harish : Rajesh
= (15000*12) : (20000*9) : (22500*8)
= 1,80,000 : 1,80,000 : 1,80,000
= 1 : 1 : 1
Share of each in the profit = Rs 9000/3 = Rs 3000 each.

Q 10 - Ram, Mohan and Pawan together hold a pasture for which they pay a rent at the rate of Re 160 per month. They rear 70, 50 and 40 cows respectively on it. Ram sells 2/7th of his stock to Mohan after 4 months and further 3 months later Pawan sells 2/5th of his stock to Ram. How much of rent should each pay at the end of the year?

A - 780, 760, 420

B - 720, 800, 400

C - 800, 720, 400

D - 760, 760, 400

Answer : D

Explanation

Total rent to be paid for 1 year = 160 * 12 = Re 1920
Computing in terms of 1 month,
Ram's share = (70*4) + (70 - 2/7 * 70) * 3 + (70 - 2/7 * 70 + 2/5 * 40) * 5
= (70*4) + (50*3) + (66*5)
= 280 + 150 + 330
= 760

Mohan's share = (50*4) + (50 + 2/7*70)*8
= 200 + 560
= 760

Pawan's share = (40*7) + (40 - 2/5 * 40) * 5
= 280 + 120
=400

So, Ram : Mohan : Pawan = 760 : 760 : 400 = 19 : 19 : 10
Sum of ratios = 19 + 19 + 10 = 48
Rent to paid by Ram and Mohan each = 19/48 * 1920 = Re 760 each
Rent to be paid by Pawan = 19/48 * 1920 = Re 400


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