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PARTNERSHIP

Partnership

Partnership is a business where two ( or more) partners invest a certain amount ( known as capital) For a specific period to carry out the business . At the end of the period ( usually one year), the business may generate profit or loss. This profit or loss is divided among the partners in the ratio of their investments.

The proportion in which profit or loss would be distributed amongst the partners is given by the ratio of the joint product of the capital invested and the period of investment for each partner. If the time for which the various investments are in the business is different , find out the ‘monthly equivalents’ of the investments , by multiplying the investments by the number of years for which they are in the business . Thus, if A and B are in partnership, at the end of one year ( which is a convention) , the profit or loss would get distributed as:

Profit ( or loss) = ( capital invested) X ( period of investment) Profir ( or loss) = ( capital invested) X ( period of investment)

Minor variations in the above can take place as :

(1) A partner retires during the one year period – in such case, only the period for which his capital was utilized, is taken into consideration.

(2)A Partner joins during the one year period -- in such case, only the period for which his capital was utilized , is taken into consideration.

EXERCISE

Partnership

1. A started business with an investment Rs 60,000. Four months later , B joined him with his

investment Rs 60,000. If at the end of the year, Rs 35000 profit is made, what is the share of A in the same? (1) Rs 14,000 (2) Rs 21,000 (3) Rs 15,000 (4) Rs 20,000 (5) None of these

2. A started a business with a capital of Rs 10,000. Four months later , B joined him and 2

more months later , C joined them in the partnership . If at the end of one year, B receives a share of profit as Rs 25,000 , what is the total profit made? (1) Rs 15,000 (2) Rs 20,000 (3) Rs 18,000 (4) Rs 22,000 (5) None of these

3. A,B and C started a business in partnership by investing Rs 6,000 , Rs 4,000 and Rs 10,000 respectively. However, B quits after 6 months. If at the end of one year , B receives a share of profit as Rs 2,500, what is the total profit made?

(1) Rs 25,000 (2) Rs 22,500 (3) Rs 20,000 (4) Rs 28,000 (5) None of these

4. Yogesh, Mahesh and Bhavesh started a business in partnership by investing the amounts in

the ratio

made at the end of one year be distributed in sequence “Yogesh: Mahesh: Bhavesh”?

(1) 9:7:11

(2) 9:21:7

(3)9:21:11

of

3 : 7: 11

. After 4 months , Bhavesh withdrew.

In what proportion will the profit

(4) 3:7:7 (5) none of these

Partnership

5.A starts a business with a capital of Rs 10,000 and 4 months later , B joins him with his capital of Rs 6,000. What is the share of B in the profit of Rs 2,100 at the end of the year? (1) Rs 500 (2) Rs 600 (3) Rs 1,200 (4) Rs 1,500 (5) None of these

6. In a partnership business, A invests Rs 20,000 for two years, B invests Rs 40,000 for 1 and a half years, C invests Rs 30,000 for one year and D invests Rs 35,000 for two years . Out of the total profit made, C gets a share of 20% as a ‘working partner’ before the profit is further distributed amongst all of them. What would be the share of C in the total profit of Rs 25,000? (1) Rs 9,000 (2) Rs 7,000 (3) Rs 11,000 (4) Rs 8,000 (5) None of these

7. Ajay and Anil started a business in partnership. Anil invested Rs 300 more than Ajay for half

the number of months that Ajay did. If , out of the total profit of Rs. 375 of one year, Ajay got Rs 25 more than Anil , what was the investment made by Anil?

(1) Rs 800 (2) Rs 700 (3) Rs 350 (4) Rs 400 (5) None of these

8. B receives 1/8 of the profits of a business as wages and the rest is divided between B abd A in

the proportion of their capitals of Rs 6,000 and Rs 8,000 respectively. If in a year , B receives Rs 1,000 totally , what does A receive? (1) Rs 800 (2) Rs 1,000 (3) Rs 1,200 (4) Rs. 1,500 (5) none of these

Partnership

9. A,B and C invest in a business with B’s capital being twice A’s and thrice C’s . In a

particular year , the profit amounts to Rs 1,100, which is equal to 1/10 th of the total capitals. What is A;s capital? (1) Rs 3,000

(2) Rs 3,100 (3) Rs 2,100 (4) Rs 2,800 (5) None of these

10. A and B invest Rs 3,000 and Rs 4,000 respectively in a business . If A doubles his capital after six months, in what proportion should B and A divide that years profit?

(1) 9:8 (2) 8:9 (3) 9:7 (4) 11:12 (5) none of these

11. B invests Rs 500 more than A in a business but A’s investment is in the business for 4

months whereas B’s investment is for 3 months only. If A’s share of total profit of Rs 520 is Rs 40 more than B’s , how much did A contribute in the business? (1) Rs 2,500 (2) Rs 3,000 (3) Rs 3,500 (4) Rs 2,800 (5) None of these

12. In a partnership among A,B and C , A’s capital is Rs 5,000. If his share in profit of Rs 800 is Rs 200 and C’s share is Rs 130, what is B’s capital?

(1) Rs 1300 (2) Rs 13,100 (3) Rs 12,100 (4) Rs 11,750 (5) None of these

13. A puts into a business Rs 4,000 for 4 months, B Rs 8,000 for 8 months , and C Rs 1,200 for 12 months. What is A’s share of profit in Rs 8,260 made at the end of one year?

(1) Rs 590 (2) Rs 1400 (3) Rs 1100 (4) Rs 800 (5) None of these

Partnership

14. A and B invest Rs 30,000 and Rs 40,000 respectively in a business. A receives Rs 100 per month out of the profit for running the business and the rest of the profit is divided in the proportion of their investments. If in a year , A totally receives Rs 3,900 what does B receive?

(1) Rs 2,500 (2) Rs 3,600 (3) Rs 3,500 (4) Rs 3,000 (5) None of these

15. A,B and C invest Rs .4,000 , Rs 5,000 and Rs 6,000 respectively in a business. A gets 25%

of the profits for managing the business and the rest of the profit is divided in the proportion of their investments. If, in a year , A gets Rs 100 less than B and C , what was the profit that year? (1) Rs 500 (2) Rs 600 (3) Rs 1,000 (4) Rs 1,500 (5) None of these

16. A and B together invested Rs 10,000 in a business. At the end of the year, out of a profit of Rs 500 , B’s share was Rs 150 . What was A’s investment?

(1) Rs 5000 (2) Rs 5,500 (3) Rs 5,200 (4) Rs 6,500 (5) None of these

17. A and B invest Rs 5,000 and Rs 2,500 respectively in a business. After 4 months A and

after 4 months more B , withdrew half of their capitals . what is A’s share of profit in Rs 1,950 at the end of the year? (1) Rs 1,000 (2) Rs 1,400 (3) Rs 1,200 (4) Rs 800 (5) None of these.

18. A,B and C started a business in partnership. A invests a sum of money at the beginning of the year and B invests the double amount after 6 months, and C invests thrice the amount

Partnership

after 8 months. At the end of the year, they earn a profit of Rs. 1,2000 . What is B’s share in the profit? (1) Rs 5000 (2) Rs 5,500 (3) Rs 4,000 (4) Rs 4,500 (5) None of these

19. A and B invest Rs 7,000 and Rs 2,000 respectively in a business. What should be the share of B in a profit of Rs 900, at the end of a year?

(1) Rs 200 (2) Rs 140 (3) Rs 120 (4) Rs 300 (5) None of these

20. A and B invest Rs 3,000 and Rs 2,000 respectively in a business. A was a sleeping partner. At the end of one month, both get Rs 150 each . What was B’s remuneration for his work?

(1) Rs 60 (2) Rs 40 (3) Rs 50 (4) Rs 30 (5) None of these