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 - If the the total investment of a business is an amount of rs. 5000. Ajay invested 4000 Rs. more in the comparision of Bijender and Bijender invested 5000 more in the comparision of Chman . At the end of the year, Rs. 35000 earned in the form of profit then what should be the share of Ajay?

A - Rs. 14700

B - Rs. 5000

C - Rs. 11000

D - Rs. 12000

Answer : A

Explanation

If we can assume that the C , B and A  have the investment of Rs. x ,
(x+5000) and Rs. (x+9000)  respectively. Then,
X+(x+5000)+(x+9000)  =50000 ⇒ 3x = 36000 ⇒ x =12000.
C =Rs. 12000 , B = Rs. 17000 and C = Rs. 21000
A : B : C = 21000 : 17000: 12000 =  21: 17: 12
Share of A = Rs. (35000* 21/50) = Rs. 14700

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?

A - Rs. 56000

B - Rs. 21200

C - Rs. 9000

D - Rs. 20000

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 - 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 - 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 - 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 - 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 - 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 - 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.

A - 936, 444, 924

B - 935, 445, 924

C - 930, 450, 924

D - 936, 440, 928

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


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