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 - The investment ratio between A and C is 2:1 but between A and B the investment ratio is 3:2. A firm earned Rs. 157300 as a profit and find out the share of B in profit?

A - Rs. 20000

B - Rs. 25000

C - Rs. 48400

D - Rs. 13250

Answer : C

Explanation

Let the ratio of profit sharing  between A: B: C is 6x : 4x :3x  respectively.
= 6:4:3
Share of B in profit = Rs. (157300* 4/13) = 48400 Rs.

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 - 7/2 :4/3: 6/5 with this ratio a business started by A,B and C . Investment increase 50% by A after the period of 4 month. What should be the share of B in profit if firm earned Rs. 43200 as a profit?

A - Rs.4200

B - Rs.4800

C - Rs.7200

D - Rs. 8000

Answer : D

Explanation

Given ratio = 7/2 : 4/3 : 6/5 = 105 : 40: 36
Suppose Rs. 105x  invested by A , Rs. 40x invested by B and Rs. 36x  invested By C.
Investment ratio = (105x*4+ (150%of 105x): (40x:12): (36x*12)
=(420x+150/100*105x*8) :480x: 432x = (1680x ): (480x):(432x)
= 35: 10: 9
Share of B = Rs. (43200*10/54) = Rs. 8000.

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 - 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?

A - Rs. 7200

B - Rs. 6600

C - Rs. 7800

D - Rs. 8200

Answer : B

Explanation

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?

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 - 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 - 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 - 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?

A - Re 6400

B - Re 3600

C - Re 4800

D - Re 3200

Answer : C

Explanation

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


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