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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 - 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?
Answer : D
Explanation
Ajay : Vijay = (25000*12: 30000*9) = 300000: 270000 = 10: 9 Share of Ajay = Rs. (19000* 10/19) = Rs. 10000
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?
Answer : B
Explanation
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 - 6 (capital of A) : 8(capital of B) : 10 (capital of C) these condition of investment are in a firm who made by three partners A: B;C . What should be the ratio of capital of A, B and C ?
Answer : D
Explanation
Let 6 (capital of A) : 8(capital of B) : 10 (capital of C) = Rs. x Then, A's capital = Rs. x/6 , B?s capital = x/8 and C's capital = x/10 A: B: C = x/6 : x/8 : x/10 = 1/6 : 1/8 :1/10 = 20: 15: 12
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?
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 - 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 - What should be the ratio of profit between A, B and C after the period of 3 years. If A invest 25 lakhs at starting of the business and Rs. 10 lakhs also add after one year and B invest 35 lakhs in the starting and Rs. 10 lakhs withdraw after 2 year and C invested 30 lakhs only from starting.
Answer : D
Explanation
Investment of A = Rs. (25*1+ 35*2) = Rs. 95 Investment of B = Rs. (35*2+25*1) = Rs. 95 Investment of C = Rs. (30*3) = Rs. 90 ∴ A:B:C = 95:95: 90 = 19: 19: 18
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?
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 - Geeta and Sita are the partners in the business. Geeta invests Rs 1500 and Sita Rs 2500. Geeta is the working partner and gets 20% of the profit for her contribution in the management. Sita is a sleeping partner. If the profit is Rs 475, find the share of each.
Answer : A
Explanation
Payment to be made to Geeta for her contribution in the management = 20% of Rs 475 = 20/100*475 = Rs 95 Balance Profit = Rs (475 - 95) = Rs 380 Ratio of investment by Geeta and Sita = 1500 : 2500 = 3 : 5 Hence, Rs 380 is to be divided among the two in the ratio of 3 : 5. Geeta's share = 3/8 * 380 = Re 142.5 Sita's share = 5/8 * 380 = Re 237.5 Finally Geeta gets = Re (142.5 + 95) = Rs 237.5 And Sita gets = Re 237.5
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 - 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?
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