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Partnership - Online Quiz
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 - If a business started by three partners A, B and C with the investment of Rs. 26000 , 34000 and 10000 respectively.An amount of Rs. 3500 earned by them at the end of the year, find out the B share in profit?
Answer : C
Explanation
A: B: C = 26000: 34000: 10000 = 13: 17: 5 Share of B = Rs. (3500* 17/35) = Rs. 1700
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?
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 .
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?
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?
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?
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?
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 - In a partnership business, Mr X invests Rs 2400 for 4 years, Mr Y invests Rs 2800 for 8 years and Mr Z invests Rs 2000 for 10 years. They earn Rs 1170. Find the share of profit for each partners.
Answer : D
Explanation
Rs 2400 investment in 4 years earns as much as Rs 2400*4 = Rs 9600 in 1 year Similary, Rs 2800*8 = Rs 22400 in 1 year And Rs 2000*10 = Rs 20000 in 1 year. Ratio for profit to be shared = 9600 : 22400 : 20000 = 12 : 28 : 25 Sum of ratios = 12 + 28 + 25 = 65 Hence, X's share = 12/65 * 1170 = Rs 216 Y's share = 28/65 * 1170 = Rs 504 Z's share = 25/65 * 1170 = Rs 450
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.
Answer : A
Explanation
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 - Amit and Binod enter into partnership business with Re 5000 and Re 4000 respectively. After 1/4th of the time Amit contributes additional Re 2000. One month after the start of the business, Binod withdraws 1/4th his capital. Jagan then joins the business with a capital investment of Re 7000. The profit at the year-end is Re 2304. Find the share of profit for each investors.
Answer : A
Explanation
Bringing down the investment to 1 month, Amit's investment = (5000*12) + (2000*9) = Re 78000 Binod's investment = (4000*1) + (3000*11) = Re 37000 Jagan's investment = (7000*11) = Re 77000 Amit : Binod : Jagan = 78 : 37 : 77 Sum of ratios = 78+37+77 = 192 Amit's share = 78/192 * 2304 = Re 936 Binod's share = 37/192 * 2304 = Re 444 Jagan's share = 77/192 * 2304 = Re 924