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.
Q 1 - Ramesh , suresh and kumar are partnersin a business. They invested their capital in the ratio of 3:4:7. An amount of Rs. 21000 earned by them at the end of the year, How much share kumar earned in this profit?
Ramesh : suresh : kumar = 3:4:7 Share of Kumar = Rs. (21000* 7/14) = Rs. 10500
Q 2 - Ajay , Bijender and chaman started a business and invested Rs. 20000 each partner .After the period of 4 month, some changes are made in investment just like Ajay withdraw Rs. 5000, Bijender and chaman both add 6000 each in the invested capital. An amount of Rs. 69900 recorded as a profit in the firm. What should be the share of Bijender in profit?
Ajay : Bijender: chaman = (20000*5+15000*7) : (20000*5+ 16000*7) :(20000*5+26000*7) = 205000: 212000 : 262000 = 205 : 212: 282 Share of B in profit = Rs. (69900* 212/699) = Rs. 21200
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 .
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 - Partners of a firms are A, B and C. Conditions of invest ment are twice the A investment is equal to thrice the capital of B and the capital of B is four times in the comparison of C capital. What should be the share in profit of B if profit earned by Rs. 29700?
If 2A = 3B and B = 4C and therefore, 3B = 12 C ∴ 2A =3B = 12C = x ⇒ A = x/2 , B = x/3 , C= x/12 ∴ A:B:C = x/2 : x/3 : x/12 = 1/2 : 1/3: 1/12 = 6:4:1 Hence, its proves that share of B = (297000* 4/11) = Rs. 10800.
Q 5 - In a partnership firm A and B invested. For the period of 8 month. A invested Rs 16000 and rest of the capital by B for the rest of the time. Find out the money contributed by B if he claims 2/7 part of the profit ?
Let total profit of the firm = 1 Share of B in profit = (1-2/7 ) = 5/7 Ratio of profit = 5: 2 Contribution of B = x then (16000*8)/ 4x = 5/2 ⇒20x = 256000 ⇒ x= 12800. Hence, b contributed rs. 12800.
Q 6 - If 4:5 is the ratio of A and B capital . A and B both withdraw money 1/4 and 1/5 of his capital . after the period of 10 month gain was Rs. 15200 , what should be the share in profit of A?
Rs. 4x and Rs. 5x is the capital of A and B respectively. Capital withdrawn by A = 1/4 of Rs. 4x = x Capital withdrawn by B = 1/5 of Rs. 5x= x A: B = (4x*3+ 3x*7): (5x*3+4x*7) = 33x: 43x = 33: 43 Share of A = (15200* 33/76) = Rs. 6600
Q 7 - In a business A is a active and B is non active partners. Investment of A and B are Rs. 12000 and Rs. 20000. 10% share of profit recived by A for his work and Rest of the profit divided in the ratio of their capital . What should be the share of A if total profit of the firm is 18000?
Amount received by A for working = 10% of 18000 = 1800 Rs. Profit after A taken working amount = (18000-1800) = Rs. 16200 A and B investment ratio = 12000: 20000 = 3: 5 Share of A = (3/8* 16200) = Rs. 6075 ∴ Total amount received by A = Rs. ( 6075+ 1800) = Rs. 7875
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.
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 - Anil, Babloo and Chintu enter into a business with capital investment of Re 25000, Re 30000 and Re 15000 respectively. A is the working partner and he gets 30% of the profit for managing the business. The balance profit is distributed in proportion to their capital investments. At the year-end Anil gets Re 200 more than Babloo and Chintu together. Find the total profit and the share of each.
Let the total profit be Re 100. Anil's share for managing the business = 30% of profit = Re 30 Balance profit = (100 - 30) = Re 70 Ratio of capital investment = 25000 : 30000 : 15000 = 5 : 6 : 3 Anil's share of profit = 5/14 * 70 = Re 25 Babloo's share of profit = 6/14 * 70 = Re 30 Chintu's share of profit = 3/14 * 70 = Re 15 Anil's total share = Re (30 + 25) = Re 55 Anil's share of profit - (Babloo's share of profit + Chintu's share of profit) = Re 55 - (Re 30 + Re 15) = Re 55 - Re 45 = Re 10 When the difference is 10, total profit = Re 100 When the difference is 200, total profit = Re 2000 Now, 30% of Re 2000 = 30/100 * 2000 = Re 600 Balance profit = 2000 - 600 = Re 1400 Re 1400/5+6+3 = Re 100 Anil's actual share = Re 600 + Re (5*100) = Re 1100 Babloo's actual share = Re 100 * 6 = Re 600 Chintu's actual share = Re 100 * 3 = Re 300
Q 10 - An amount of money is to be divided among P, Q and R in the ratio of 5:11:23 respectively. If the difference between the total share of P and Q together and R's share is Re 2800, what is the difference between Q and R's share?
According to the question, 23x - (5x + 11x) = 2800 Or, 23x - 16x = 2800 Or, 7x = 2800 Or, x = 400 Difference between share of Q and R = 23x - 11x = 12x = 12*400 = Re 4800