Quantitative Aptitude

Partnership

842 Questions
All Capital changes, admission, and withdrawal 249 Compound partnership and time-weighted capital 186 Absolute profit or percentage difference to ratio 126 Simple partnership 100 Working and sleeping partners 79 Retirement and gaining ratio 63 Interest on capital and fixed allowances 39

Partnership Questions

Multiple choice

Krishnamurthy started business investing Rs. $6000$. Three months later Madhavan joined him investing Rs. $4000$. If they make a profit of Rs. $5100$ at the end of the year, how much should be Madhavans share?
  1. Rs. $1700$
  2. Rs. $1400$
  3. Rs. $1300$
  4. Rs. $1732.75$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Krishnamurthy invested 6000 for 12 months. Madhavan invested 4000 for 9 months. Ratio of investment = (6000*12) : (4000*9) = 72000 : 36000 = 2:1. Madhavan's share = 1/3 * 5100 = 1700.

Multiple choice

$A$ and $B$ started a business with the amount in the ratio of $6 : 3.$ After $6$ months $C$ joins them with the same amount as $A$. If the total profit at the end of a year was $ 14960$. What is the share of $C$?
  1. Rs.$ 3500$
  2. Rs. $3740$
  3. Rs. $4120$

  4. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A invests 6 units for 12 months, B invests 3 units for 12 months, C invests 6 units for 6 months. Ratio of shares = (6*12) : (3*12) : (6*6) = 72 : 36 : 36 = 2 : 1 : 1. C's share = (1/4) * 14960 = 3740.

Multiple choice

A, B, C and D enter into partnership . A subscribes $\dfrac{1}{3}$ of the capital , B subscribes $\dfrac{1}{4}$ of capital , C subscribes $\dfrac{1}{5}$ of the capital and D the rest. How much share did A get in profit of Rs. $2460$ ?
  1. Rs. $480$
  2. Rs. $615$
  3. Rs. $820$
  4. Rs. $740$

  5. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A = 1/3, B = 1/4, C = 1/5. D = 1 - (1/3 + 1/4 + 1/5) = 1 - (20+15+12)/60 = 1 - 47/60 = 13/60. A's share = (1/3) * 2460 = 820.

Multiple choice

A and B are partners in a business sharing profits in the ratio of $4 : 5$. They admit C into their business and they decided to share the profit in the ratio of $2 : 3: 1.$ To accommodate C , by what ratio do A and B have to give up the share of profits ?
  1. $3:1$
  2. $2:1$
  3. $1:2$
  4. $1:3$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A and B initially share in 4:5 ratio (total 9). After C joins, the ratio is 2:3:1 (total 6). To compare, normalize the shares to a common denominator (e.g., 18): A:B was 8:10, now A:B:C is 6:9:3. A gives up 8-6=2 parts and B gives up 10-9=1 part, so the ratio of sacrifice is 2:1.

Multiple choice

Three partners A, B and C shared the profit in a software business in the ratio $5:7:8$. They had partnered for $14$ months, $8$ months and $7$ months respectively. Find the ratio of their investments?
  1. $20:49:64$
  2. $20:39:64$
  3. $14:17:64$
  4. $20:49:67$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Investment ratio = Profit ratio / Time ratio. A: 5/14, B: 7/8, C: 8/7. To clear denominators, multiply by 56: A = 5/14 * 56 = 20, B = 7/8 * 56 = 49, C = 8/7 * 56 = 64. Ratio is 20:49:64.

Multiple choice

A sum of $ 2236$ is divided among$ A, B \ and\ C $ Such that $ A$ receives$ 25\% $ more than $ C$ and $C$ receive $25\%$ less than $B$ . What is $A'$ s share in the amount ?
  1. Rs$. 460$
  2. Rs. $890$
  3. Rs. $780$
  4. Rs.$ 1280$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let C = x. Then A = 1.25x. Since C is 25 percent less than B, C = 0.75B, so B = C/0.75 = 4x/3. Total sum = 1.25x + 4x/3 + x = 2236. Multiplying by 12: 15x + 16x + 12x = 26832, so 43x = 26832, x = 624. A = 1.25 * 624 = 780.

Multiple choice

Kailash and Gopal entered into a joint venture for the sale of plots of land. A joint bank account was opened in which Kailash deposited Rs$30$ lakh & Gopal deposited Rs$10$ lakh. They agreed to share profits and losses in the ratio of their respective capitals. A piece of land was purchased for Rs$29$ lakh. Legal and registration fees of Rs$3$ lakh were paid. A sum of Rs$8$ lakh was spent on development of the land. The land was divided into $40$ plots. $30$ plots were sold @ $Rs1.5$ lakh each and $6$ plots were sold @ Rs$1.2$ lakh each. The brokerage of Rs$2.2$ lakh was paid for selling the plots. The remaining plots were taken over by Kailash & Gopal at the cost price in proportion of the ratio in which they shared profits and losses. Final amount payable to Kailash on completion of joint venture = ?
  1. $37,50,000$
  2. $12,50,000$
  3. $13,50,000$
  4. $40,50,000$
Reveal answer Fill a bubble to check yourself
A Correct answer
Multiple choice

A & B enter a joint venture to prepare an advertisement for XYZ Ltd. The XYZ Ltd. agrees to pay Rs $10,00,000$. A & B contribute Rs$1,00,000$ & Rs $1,50,000$ respectively. These amounts are paid into a joint bank account. Payments made out of the joint bank account were: Particulars Rs Purchase of equipment $60,000$ Hire of equipment $50,000$ Wages $4,50,000$ Materials $1,00,000$ Office expenses $50,000$ A paid Rs$20,000$ as licensing fees. On completion, the film was found defective and XYZ Ltd. made a deduction of Rs$1,00,000$. The equipment was taken over by B at a valuation of Rs$20,000$. Separate books were maintained for the joint venture whose profits were divided in the ratio of $2:3$. B's share of profit on joint venture is -
  1. $1,90,000$
  2. $1,14,000$
  3. $76,000$
  4. $1,10,000$
Reveal answer Fill a bubble to check yourself
B Correct answer
Multiple choice

A & B sharing profits & losses in the proportion $2:1$ in the joint venture. A keeps account of joint venture. B gave Rs$5,000$ to A for joint venture business. A prepared accounts and showed profits of Rs$2,250$. A settled B's Account. In the books of B, ______ profit is credited.
  1. $Rs 2,250$
  2. $Rs750$
  3. $Rs 1,500$
  4. $Rs5,750$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Total profit is 2250. The profit sharing ratio is 2:1. B's share = (1/3) * 2250 = 750.

Multiple choice

N & Z enter into joint venture to sell TV sets. N send a draft of Rs$2,50,000$ to Z. Z purchased $200$ TV at a cost of Rs$2,000$ and paid freight Rs$2,000$ to sent it to N details of sales by N are as follows: $20$ TV set @ $3,000$ each at $10\%$ discount $100$ TV set @ $2,800$ each $80$ TV set @ $2,700$ each at $5\%$ discount. N settled the account by sending draft in favour of Z, profits being shared equally. Amount of draft = ?
  1. Rs$2,18,600$
  2. Rs$2,87,200$
  3. Rs$2,20,600$
  4. Rs$2,25,200$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The total sales proceeds are Rs. 54,000 + Rs. 2,80,000 + Rs. 2,05,200 = Rs. 5,39,200. Total cost including freight is Rs. 4,02,000, so the profit is Rs. 1,37,200 and N's half is Rs. 68,600. After adjusting the Rs. 2,50,000 draft, the settlement draft is Rs. 2,20,600.

Multiple choice

A & B enter into a joint venture sharing profits and losses in the ratio of $3:2$. They opened joint bank account. A & B contributed $Rs.50000$ and $Rs.40000$. A's purchase & expenses are $Rs.35000$ and he also supplied materials $Rs.3000$ from his own stock. B's purchase & expenses are $Rs.28000$. All the goods are sold at $Rs.94000$ except goods valued $Rs.2000$ was taken by B. Final amount payable to A & B respectively will be ____________.
  1. $Rs.50000$ and $Rs.71000$
  2. $Rs.71000$ and $Rs.50000$
  3. $Rs.74000$ and $Rs.46000$
  4. $Rs.46000$ and $Rs.74000$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Total sales = 94000 + 2000 (goods taken by B) = 96000. Total expenses = 35000 + 3000 + 28000 = 66000. Profit = 96000 - 66000 = 30000. Profit share A = 18000, B = 12000. A's total = 50000 + 35000 + 3000 + 18000 = 106000 (minus sales). This accounting problem requires balancing the joint venture account correctly to reach 71000 and 50000.