Important Facts and Tricks of Partnership:
Partnership: It is calculated when two or more persons run a business jointly, they are called partners and the deal is known as partnership.
The Ratio of Division of Gain/ Loss·
>>When Investment of all the partners is for the same period, the gain or loss is distributed in the ratio of their investment
Example: As Let A and B invests Rs X and Rs Y for a year, then at the end
A’s share of profit: B’s share of profit = X :Y ·
>>When investments are for a different period, then equivalent capitals are calculated for a unit of time by taking (capital * a number of units of time). Now, gain or loss is divided in the ratio of these capitals.
Example: Let A invest Rs. X for P months and B invests Rs. Y for Q months then
A’s Share of profit: B’s share of Profit
= XP: YQ
Profit = Investment * Time
PA/PB= (I A * TA)/ (I B * TB)
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1. The partners A, B, C invest Rs. 26000, Rs. 34000 and Rs. 10000 respectively in a business. Out of a profit of Rs. 3500, B's share is
a) Rs. 1300 b) Rs. 1700 c) Rs. 500 d) Rs. 1500
Solution:
Partner A invest = Rs. 26000
Partner B invests= Rs. 34000
Partner C invests = Rs. 10000
Take all investment in ratio =26000: 34000:10000= 13: 17:5
Adding ratios and supposing P as net profit
35*P = 3500
P= Rs.100
B’share profit = 17 * P = 17 *100= 1700
B option is correct
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2. Karim invests Rs. 30,000 for one year in a shop. How much his partner Raunaq should invest in order that the profit after one year may be in the ratio 2:3?
a) Rs. 20000b) Rs. 400000c) Rs. 45000d) Rs. 18000
Solution:
Karim Invest I(K)= Rs. 30,000
Time of investment T(K) = 12 months Raunaq Invest I(R) = Rs?
Time of investment T(R) = 12 months
Using Profit = Investment * Time
P (K): P(R) = 2:3 = I (K) * T (K): I(R) * T(R)
I (R) = (30, 000 * 12): (I(R) * 12)
IR= Rs. 45,000
C option is correct
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3. Rs. 700 is divided among A,B and C so that A receives half as much as B and B half as much as C. then C' share is
a) Rs. 200b) Rs. 300c) Rs. 400d) Rs. 600
Solution: A receives half as much as
B A = ½ B
B half as much as C
B= ½ C
A: B: C= 1:2:4 =700
7x= 700
X=100
Putting in ratios
C share = 4*X = 4 * 100= Rs. 400
C option is correct
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4. Manoj got Rs. 6000 as his share out of a total profit of Rs. 9000 which he and Ramesh earned at the end of one year. If Manoj invested Rs. 20000 for 6 months, whereas Ramesh invested his amount for the whole year, what was the amount Invested by Ramesh? a) Rs. 30,000b) Rs. 40,000c) Rs. 10,000d) Rs. 5000
Solution:
Total Profit = Rs. 9000
Manoj share of Profit = Rs. 6000
Ramesh share of Profit = 9000- 6000= Rs. 3000
Ramesh Time of Investment T(R) = 12 months
Manoj Invested I (M) = Rs. 20,000
Time of investment T (M) = 6 months
Ratio of Profits P (M): P (R) = 6000: 3000 = 2:1
Profit = Investment * Time
2: 1 = (20,000 *6): I (R) * 12
I(R) = Rs. 5000
D is the right option
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5. A. B, and C are three partners in a business. If twice the investment of A is equal to thrice the capital of B and the capital of B is four times the capital of C, out a total profit of Rs 5940, the share of C isa) Rs. 700b) Rs. 900c) Rs. 740d) Rs. 540
Solution:
If twice the investment of A is equal to thrice the capital of B
2A=3B
The capital of B is four times the capital of C
B= 4C
A: B: C= 6:4:1
Total Profit = 5940
6:4:1 = 5940
11 X= 5940
X= 540
C share = 1* X = Rs.540
D is the right option
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6. A and B invest in a business in the ratio 3:2. if 5% of the total profit goes to charity and A's share is Rs. 855, total profit is
a) Rs. 1576 b) Rs. 1537.50 c) Rs. 1500 d) Rs. 1425
Solution:
Investment of A and B = I (A): I (B) = 3:2
Total Profit - total charity = Left Profit
100- 5% = 95% of the left profit that to be shared between A and B
Investment of A : B = 3: 2
Profit= Investment * Time
A’s share = 855/3 = 285
B’s share = 2 * 285 = 570
5% of A’s share = 5* 285 = 1425
95% of the total profit= 1425
Total profit = Rs. 1500
C option is right
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