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 - Partnership are done by Three persons A, B and C. The investment of Rs. 2560 and Rs. 2000 made by A and B respectively. If Total profit of the year is Rs. 1105 and A received Rs. 320 as a share in profit?

A - Rs. 5000

B - Rs. 4280

C - Rs. 6000

D - Rs. 12000

Answer : B

Explanation

Let A:B :C = 2560 : 2000 : x . Then,
Share of A = { 1105* 2560/ (4560+x)}
∴ (1105* 2560/ 4560+x ) = 320 ⇒ 4560+x = (1105* 2560/ 320) =  Rs. 8840
⇒  x = (8840 ? 4560) = 4280
Hence,  Rs. 4280 received by C as a share of profit.

Q 3 - 1/6 part of capital invested by A for the period of 1/6 times, 1/3 part invested by B for the 1/3 times and rest of the capital invested by C for the rest of the time. What should be the share of B if Rs. 23000 is the profit?

A - Rs. 4000

B - Rs. 5000

C - Rs. 3250

D - Rs. 4800

Answer : A

Explanation

Here x denote capital  and y denote   total time. Then,
Rs. x/6 for y/6 months for the investment of A  and Rs. x/3 for y/3 months  for the investment of B.
Investment of C = [ x-(x/6+ x/3)] = Rs. x/2 for y months.
Then , A: B: C = ( x/6 * y/6) : (x/3* y/3) : (x/2: y) = xy/36 : xy/9 : xy/2 =  1:4: 18
Share of  B in profit =  Rs. (23000* 4/ 23) = Rs. 4000.

Q 4 - 12:11 was the investment ratio of A and B who started a business and the ratio of profit were 4:1 . The period ofA investment was 11 month and what was the period of B investment?

A - 3 month

B - 5 month

C - 2 month

D - 7 month

Answer : A

Explanation

Rs. 12x and Rs. 11 x is the investment in a business. If for the y month money  invested by B .then,
A: B  = (12x*11) : (11x*y) = (132x : 11xy) = (12: y)
∴ 12/y = 4/1 = 4y = 12 ⇒ y = 3
So, we can say B invested his share for the period of 3 months in the business.

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 ?

A - Rs. 1190

B - Rs. 10500

C - Rs. 13600

D - Rs. 12800

Answer : D

Explanation

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 - The partners of a firm are A and B . A invested 3 times in the comparison of his partner. While the period of his investment is 2 times in the comparison of B . What should be the total profit of the firm if Rs. 12000 received by B as a share in profit?

A - Rs. 72000

B - Rs. 48000

C - Rs. 84000

D - Rs. 60000

Answer : C

Explanation

If Rs. x for y months is investment of B .
Then the investment of A is  Rs. 3x for the period of 2y.
∴  A: B = (3x*2y) : (x:y) = 6xy : xy = 6: 1
Let the total profit be rs. P . Then,
P* 1/7 = 12000  ⇒ p = 84000.
Hence, the prove that the the profit of the firm is 84000.

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?

A - Rs. 6480

B - Rs. 8400

C - Rs. 7875

D - Rs. 8325

Answer : C

Explanation

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 - Ram, Mohan and Pawan invest Rs 1000, Rs 4000 and Rs 5000 respectively in a business. At the end of the year the balance sheet shows a loss of 20% of the total initial investment. Find the share of loss of each partner.

A - 100, 400, 1500

B - 200, 600, 1200

C - 200, 800, 1000

D - 600, 500, 900

Answer : C

Explanation

Total initial investment = Rs (1000 + 4000 + 5000)
= Rs 10000

Total loss = 20% of total investment
=  20/100 * 10000
=  Rs 2000
Ratio of investment by all partners = 1000 : 4000 : 5000
= 1 : 4 : 5
Sum of the ratios = 1 + 4 +5 = 10

Share of loss for Ram = 1/10 * 2000 = Rs 200
Share of loss for Mohan = 4/10 * 2000 = Rs 800
Share of loss for Pawan = 5/10 * 2000 = Rs 1000

Q 9 - Ram starts a business with Re 2 lakhs. Four months later Shyam joins him with rs 4 lakhs. Hari joins them for last three months with a capital of Re 6 lakhs. The profit at the year end is Re 7400. Find the share of each in the profit.

A - 2000, 3000, 2400

B - 2200, 3400, 1800

C - 2400, 3200, 1800

D - 3000, 3400, 2000

Answer : C

Explanation

Ram's contribution is for 12 months.
Shyam's contribution is for 8 months.
Hari's contribution is for 3 months.

Ram's contribution of Re 2 lakhs for 12 months is equivalent to Re (2*12) = Re 24 lakhs in 1 month
Shyam's contribution is equivalent to Re (4*8) = Re 32 lakhs in 1 month
Hari's contribution is equivalent to Re (6*3) = Re 18 lakhs in 1 month

Share in the profit should be in the ratio = 24 : 32 : 18
= 12 : 16 : 9
Sum of ratios = 12 +16 + 9 = 37
Ram's share = 12/37 * 7400 = Re 2400
Shyam's share = 16/37 * 7400 = Re 200
Hari's share = 9/37 * 7400 = Re 1800

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

aptitude_partnership.htm
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