Partnership Questions Quiz 4 For SBI Clerk and IBPS Clerk

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Direction : Study the following questions carefully and choose the right answer.
1
Azad invested Rs 55000 in a cosmetic shop for the whole year. After 4 months of Azad, Hind joined him and invested Rs 70000. Next year Azad invested Rs 10000 more and Hind withdrew Rs 10000 and at the end of two years profit earned by Azad is Rs 32375. Find the total profit if they distributed half of the total profit equally and rest in the capital ratio.
» Explain it
D
Azad invested Rs 55000 for a year and Rs 65000 for the next year.

Hind invested Rs 70000 for 8 months and Rs 60000 for the next year.

Capital Ratio = 55000 × 12 + 65000 × 12 : 70000 × 8 + 60000 × 12

= 660000 + 780000 : 560000 + 720000

= 1440000 : 1280000 = 9 : 8

Let total profit = Rs x

Azad's profit = x × 50% × 50% + x × 50% × 9/17
32375 =  x  +  9x
4 34
 
32375 =  35x
68

x =  62900 

Hence, option D is correct.
2
Mukul, Atul and Rahul started a business. Mukul invested 2/7th of the total investment and the total investment of Mukul and Atul is equals to the investment of Rahul. If they distributed profit in the capital ratio and Atul received Rs 1530, find the total profit.
» Explain it
C
Let the total investment = Rs x

Mukul's investment = x ×  2
7

Rest investment = x – x ×  2  =  5x
7 7


Let Atul's investment = Rs a, Rahul's investment = Rs b

Rahul's investment + Atul's investment =  5x
7

a + b =  5x
7

b =  5x  – a ... 1
7


According to the question,

2x  + a = b
7

5x  – a =  2x  + a (value of b is taken out from equation 1)
7 7

5x  –  2x  = a + a
7 7

3x  = 2a
7

a =  3x  = Atul's investment
14

Rahul's investment = x –  3x  –  2x
14 7

14x – 3x – 4x
14

7x  =  x
14 2


Investment Ratio,

Mukul : Atul : Rahul =  2x  :  3x  :  x
7 14 2

= 4 : 3 : 7

As Atul's Profit = Rs.1530

Total profit =  1530  × 14 = Rs 7140
3

Hence, option C is correct.

3
X and Y invested the amount for a year in the ratio of 3:5. If the next year X invested 10% more money and Y took back 12% of his investment and X gets Rs. 3450 of the total profit. Find the total profit.
» Explain it
D
Current Ratio = 3 : 5

Ratio of Next year = 3 × 110% : 5 × 88% = 3 : 4

A's Profit = Rs. 3450 

Total Profit = 3450 ÷ 3 × 7 = Rs. 8050

Hence, option D is correct.
4
Shubham invested Rs. 2250 in a business and after some time Shivam also join him and invested Rs. 2500. At the end of year Shivam received Rs. 2750 profit out of Rs. 6050. After how much time did he join the business?
» Explain it
E
Shubham's Profit = 6050 - 2750 = 3300 Rs.

Shivam's profit = 2750 Rs.

Ratio of the profit = 3300 : 2750 

= 6 : 5

Because the ratio of the capital is equals to the ratio of the profit then,

2250 × 12 : 2500 × x = 6 : 5

5 ( 2250 × 12) = 6 ( 2500 × x)

x = 9 months

So Shivam invested after 3 months.

Hence, option E is correct.
5
Suresh starts a business with Rs. 36000. After a certain period of time he is joind by Deepak, who invests Rs. 27000. At the end of the year they divide the profit in the ratio of 8 : 3. For what period did Deepak join Suresh ?
» Explain it
E
Ratio of profit =  Capital of Suresh × Time  
Capital of Deepak × Time


Let Deepak's investment be for x months.

Then,   8  =   36000 × 12
3 27000 × x

or, x =  36000 × 12 × 3  = 6 months
8 × 27000

Hence, option E is correct.



Partnership
topic is very necessary for every competitive exams like SBI Clerk Pre, IBPS Clerk Pre, IBPS RRB Pre, Railways, UIIC, LIC, NIACL, NICL, OICL and other competitive exams.

Here we are going discuss about partnership, what is partnership,  tricks, tips and shortcuts to solve partnership questions fast with Examples

When two or more persons make an association to invest money together for running a certain business, then such an association is known as Partnership, and the persons involved in this partnership, are mutually called partners. There are two types of partnership.

1. Simple partnership  If all partners invest their capital (money) for the same period, then such partnership is known as the simple partnership.

2. Compound partnership  If all the partners invest their capital (money) for different periods, then such a partnership is called the compound partnership.

There are also two types of partners

i. Active partner  A partner who manages the business, is known as the active partner. He is also known as the working partner.
ii. Sleeping partner A partner who simply invests money and doest not manage the business actively, is called sleeping partner.

Different Cases of Partnership:


Case 1
When the investments made by all the partners are for the same time-period, then gain or loss is distributed amongst them in the ratio of their investments.

Example 1  A and B starts a business by investing Rs 4000 and 12000, respectively. Find the ratio of their profits after 1 yr.

Soln. The gain will be distributed amongst A and B in the ratio of 4000 : 12000, i.e. 1 : 3.

Example 2  A and B invested Rs 24000 and Rs 8000 for a period of 2 year. After 2 year, they earned Rs. 48000. What will be the shares of A and B out of this earning?

Soln. A’s share : B’s share = A’s investment : B’s investment = 24000 : 8000 = 3 : 1
Now, let  A’s share = 3x;
                 B’s share = x
According to the question   3x + x = 48000
⇒                                              4x = 48000
                                               X = 12000
Clearly, share of B = x = Rs 12000 and share of A = 3x = 3 × 12000 = Rs 36000.

Case 2
If the investments are made for different time periods, then for each partner, we calculate the capital as
(Capital × Number of units of time) 

Example 4  A starts a business with Rs 2000 and B joins him after 3 months with Rs 8000. Find the ratio of their profits at the end of the year.

Soln. A’s share = 2,000 × 12 : 8000 × (12 – 3)

= 2 × 12 : 8 × 9 = 1 : 3
[Here, A invested for a year (12 months) and B invested 3 months later. It does not mean B invested for (12 – 3) or 9 months.]

Example 5  A starts a business with Rs 4000 and B joins the business 4 months later with an investment of Rs. 5000. After a year, they earn a profit of Rs. 22000. Find the shares of A and B.

Soln. A’s share : B’s share = 4000 × 12 : 5000 × (12 – 4)
= 4 × 12 : 5 × 8 = 6 : 5
Now, let the share of A = 6x,
And the share of B = 5x
According to the question,   6x + 5x = 22000   or  11x = 22000
                          x = Rs 2000
  Share of A = 6x = 6 × 2000 = Rs. 12000,
and share of B = 5x = 5 × 2000 = Rs. 10000
Shares of A and B could be determined by the following method also.

A's share =  6  × 22000 = Rs 12000
6 + 5

B's share =  5  × 22000 = Rs 10000
6 + 5


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