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 - 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 - 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?

A - Rs. 10800

B - Rs. 20000

C - Rs. 5000

D - Rs. 3000

Answer : A

Explanation

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 - A VcR at a rent of Rs. 350 taken by Three partner A,B and C. They use it for 6 hours , 10 hours and 12 hours respectively. What should be the share of C in rent?

A - Rs. 150

B - Rs. 75

C - Rs. 125

D - Rs. 135

Answer : A

Explanation

Rent paid by them in the ratio = 6 : 10: 12 = 3: 5:6
Rent paid by C = (6/14* 350) = 150 Rs.

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 and B are the partners and 1/4 of total capital invested by A for the period of 15 months and 2/3 part of the profit received by B as a share . find out the time period of invested capital of B?

A - 6 month

B - 9 month

C - 10 months

D - 1 year

Answer : C

Explanation

Let x Rs is the capital of the business and  money invested by B used for y month.
Capital of A =  Rs.x/4 , B ?s capital  = Rs. ( x- x/4) =3x/4
A and B investment  ratio =  (x/4 *15) : (3x/4 * Y)  = 15/4 : 3y/4 = 5: y.
Profit ratio of A and B = 1/3 : 2/3 = 1:2
∴  5/y = 1/2 = y = 10 months.

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.

A - 215, 450, 555

B - 215, 500, 455

C - 215, 505, 450

D - 216, 504, 450

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.

A - 2000, 1100, 600, 300

B - 3000, 2100, 600, 300

C - 2500, 1500, 400, 600

D - 2000, 600, 500, 900

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 - 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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