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

X and Y are partners in a business sharing profits and losses in the ratio of 3 : 2. They admit Z as a new partner with 1/5 share in the profits. Calculate the new profit sharing ratio of the partners.

  1. 12 : 8 : 5

  2. 12 : 8 : 6

  3. 12 : 7 : 6

  4. 12 : 3 : 7
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Remaining share after Z gets 1/5 is 4/5. This is divided between X and Y in 3:2 ratio. X's new share = 3/5 * 4/5 = 12/25. Y's new share = 2/5 * 4/5 = 8/25. Z's share = 1/5 = 5/25. Ratio is 12:8:5.

Multiple choice

Ramesh started a business investing a sum of Rs. 40,000. Six months later, Kevin joined by investing Rs. 20,000. If they make profit of Rs. 10,000 at the end of the year, how much is the share of Kevin?

  1. Rs. 2,000

  2. Rs. 4,000

  3. Rs. 3,000

  4. Rs. 2,500
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Ramesh invested 40000 for 12 months, Kevin invested 20000 for 6 months. Ratio = (40000*12) : (20000*6) = 480000 : 120000 = 4:1. Total parts = 5. Kevin's share = (1/5) * 10000 = 2000.

Multiple choice

In the beginning of the year, Robin, Tyler and Albert started an IT consulting business with initial investment of \$175,000 in the ratio 3 : 2 : 5, respectively. They made a profit of \$87,500 by the end of the year and decided to split the profit in the same ratio as their individual initial investment. What would be the profit share for Tyler in dollars?
  1. $17,500
  2. $19,500
  3. $26,250
  4. $28,250
  5. $43,750
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The profit is split in the ratio 3:2:5. Total parts = 3+2+5 = 10. Tyler's share = (2/10) * 87500 = 17500.

Multiple choice

E, F and G are partners sharing profit in the ratio 3 : 3 : 2. According to the partnership agreement, G is to get a minimum amount of Rs. 80,000 as his share of profit every year and any deficiency on this account is to be personally borne by E. The net profit for the year ending 31st March 2021 amounted to Rs. 3,12,000. Calculate the amount of deficiency to be borne by E.

  1. Rs. 1,000

  2. Rs. 4,000

  3. Rs. 8,000

  4. Rs. 2,000
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Total profit is 3,12,000. G's share is (2/8) * 3,12,000 = 78,000. The guaranteed minimum is 80,000. The deficiency is 80,000 - 78,000 = 2,000, which E must cover.

Multiple choice

Kalki and Kumud were partners sharing profit and loss in the ratio 5 : 3. On 1st April, 2021 they admitted Kaushtubh as a new partner and new ratio was decided as 3 : 2 : 1. Goodwill of the firm was valued as Rs. 3,60,000. Kaushtubh could not bring any amount for goodwill. What will be the amount of goodwill share to be credited to Kalki and Kumud's account?

  1. Rs. 37,500 and Rs. 22,500, respectively

  2. Rs. 30,000 and Rs. 30,000, respectively

  3. Rs. 36,000 and Rs. 24,000, respectively

  4. Rs. 45,000 and Rs. 15,000, respectively
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Goodwill = 3,60,000. Sacrifice ratio: Kalki (5/8 - 3/6) = (15-12)/24 = 3/24. Kumud (3/8 - 2/6) = (9-8)/24 = 1/24. Sacrifice ratio = 3:1. Kaushtubh's share is 1/6 of 3,60,000 = 60,000. Kalki gets 3/4 of 60,000 = 45,000. Kumud gets 1/4 of 60,000 = 15,000.

Multiple choice

Sarvesh, Sriniketan and Srinivas are partners in the ratio 5 : 3 : 2. What will be Sarvesh's share of profit if Sriniketan's share of profit at the end of the year amounted to Rs. 1,50,000?

  1. Rs. 5,00,000

  2. Rs. 1,50,000

  3. Rs. 3,00,000

  4. Rs. 2,50,000
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The profit-sharing ratio of Sarvesh, Sriniketan, and Srinivas is 5 : 3 : 2. Since Sriniketan's share of 3 units corresponds to Rs. 1,50,000, each unit is worth Rs. 50,000. Therefore, Sarvesh's share of 5 units is 5 * 50,000 = Rs. 2,50,000.

Multiple choice

Asha and Nisha are partners sharing profits in the ratio 2 : 1. Kashish was admitted for 1/4 share, of which 1/8 was gifted by Asha. The remaining was contributed by Nisha. Goodwill of the firm is valued at Rs. 40,000. How much amount for goodwill will be credited to Nisha's capital account?

  1. Rs. 2,500

  2. Rs. 5,000

  3. Rs. 20,000

  4. Rs. 40,000
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Kashish gets 1/4 share. Asha gives 1/8. Nisha gives (1/4 - 1/8) = 1/8. Nisha's sacrifice is 1/8 of the firm's goodwill. 1/8 * 40,000 = 5,000.

Multiple choice

Mickey, Tom and Jerry were partners in the ratio of 5 : 3 : 2. On 31st March, 2021, their books reflected a net profit of Rs. 2,10,000. As per the terms of the partnership deed, they were entitled for interest on capital which amounted to Rs. 80,000, Rs. 60,000 and Rs. 40,000, respectively. Besides this, a salary of Rs. 60,000 each was payable to Mickey and Tom. Calculate the ratio in which the profits would be appropriated.

  1. 1 : 1 : 1

  2. 5 : 3 : 2

  3. 7 : 6 : 2

  4. 4 : 3 : 2
Reveal answer Fill a bubble to check yourself
C Correct answer
Multiple choice

Q.60.Sohan started a business with a capital of Rs. 80000. After 6 months Mohan joined as a partner by investing Rs. 65000. After one year they earned total profit Rs. 20000. What is share of Sohan in the profit? A.Rs. 5222.2 B.Rs. 14222.2 C.Rs. 6222.2 D.Rs. 6777.7 E. None

  1. A

  2. B

  3. C

  4. D

  5. E
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Profit shares are proportional to capital multiplied by time. Sohan's investment-time product is 80000 x 12, while Mohan's is 65000 x 6, giving a ratio of 32:13. Sohan receives 20000 x 32/45 = 14222.2 rupees approximately.

Multiple choice

Niki &Sonu started a business with initial investment of Rs 1300 and Rs 1500 respectively. After 5 months, Niki added Rs 200. After 4 months, Sonu added Rs 500 and after another 3 months, Sonu added Rs 1000. If at the end of the year, they earned the profit of Rs 35200. Calculate Niki's share of profit-

  1. 14600

  2. 13600

  3. 13000

  4. 15600

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

Niki's investment: 1300*5 + 1500*7 = 6500 + 10500 = 17000. Sonu's investment: 1500*4 + 2000*3 + 3000*5 = 6000 + 6000 + 15000 = 27000. Ratio N:S = 17:27. Niki's share = (17/44) * 35200 = 17 * 800 = 13600.

Multiple choice

Agalya and Bhairavi enter into a partnership and Agalya invests Rs 14000 in the partnership. At the end of 3months she invests Rs 5000. At the end of another 4 months, she invests the another Rs 6000. If Bhairavi invests a certain sum in the partnership at the beginning of the year and leaves it and receives Rs 9720 as her share if the total of Rs 31320 a year, how much did Bhairavi invest in the company?

  1. 37850

  2. 42500

  3. 41400

  4. 35478

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

A, B and C are 3 partners in a business. Their investments are respectively Rs 2000, Rs 4,000 and Rs 3,000. A gets 30% of total profit for managing the business. The remaining profit is divided among them in the ratio of their investments. At the end of the year, the profit of A is Rs 1100 less than the sum of the profit of B and C. What amount of income will C get?

  1. Rs 2100.75

  2. Rs 2887.5

  3. Rs 2705.75

  4. Rs 2546.25

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

Let total profit be P. A gets 0.3P. Remaining 0.7P is split in ratio 2:4:3 (total 9 parts). A's share = 0.3P + (2/9)*0.7P = 0.3P + 0.1555P = 0.4555P. B's share = (4/9)*0.7P = 0.3111P. C's share = (3/9)*0.7P = 0.2333P. Given (B+C) - A = 1100 => (0.3111P + 0.2333P) - (0.3P + 0.1555P) = 1100 => 0.0888P = 1100 => P = 12375. C's share = 0.2333 * 12375 = 2887.5.

Multiple choice

P started a business in 1990 by investing Rs.25,000. She invested Rs. 10,000 as additional amount in 1991 and her friend Q joined her with an amount of Rs.35,000. P invested another Rs. 10,000 in 1992 and R joined them with Rs. 35,000. At the end of these 3 years, they earned a profit of Rs. 150,000. Find Q's share?

  1. Rs.50,000

  2. Rs.65,000

  3. Rs.75,000

  4. Rs.15,000

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

P's investment: 25k for 3 years, 10k for 2 years, 10k for 1 year = 75k + 20k + 10k = 105k. Q's investment: 35k for 2 years = 70k. R's investment: 35k for 1 year = 35k. Total ratio P:Q:R = 105:70:35 = 3:2:1. Q's share = (2/6) * 150,000 = 50,000.

Multiple choice

P, Q & R enter into a partnership to construct a school by investing in the ratio of 5:4:6. After 1 year, Q invests another Rs. 240000. And after one year R also invests Rs. 240000. At the end of 3 yrs profits are shared in the ratio of 5:6:7. Find the initial investment of Q.

  1. Rs.320000

  2. Rs.240000

  3. Rs.160000

  4. Rs.480000

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

Let initial investments be 5x, 4x, 6x. Profit ratio = (Investment * Time). P: 5x*3 = 15x. Q: 4x*1 + (4x+240000)*2 = 12x + 480000. R: 6x*2 + (6x+240000)*1 = 18x + 240000. Given Q's share/P's share = 6/5: (12x+480000)/15x = 6/5 -> 60x + 2400000 = 90x -> 30x = 2400000 -> x = 80000. Q's initial investment = 4x = 320000.

Multiple choice

Directions: Read the following information carefully and answer the questions given below. A # B means 'A is son of B' A $ B means 'A is wife of B' A * B means 'A is sister of B' A @ B means 'A is brother of B' A & B means 'A is father of B' Abinav, Durga and Gowrav jointly thought of engaging themselves in a business. It was agreed that Abinav would invest Rs. 13000 for 3 months, Durga, Rs. 16000 for 6 months and Gowrav, Rs. 30,000 for 5 months. Abinav wants to be the working member for which, he was to receive 10% of the profits. The profit earned was Rs. 14800. Calculate the share of Gowrav in the profit(approx).

  1. Rs. 3405.5

  2. Rs. 7010.5

  3. Rs. 5020.5

  4. Rs. 3425.5

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

First, Abinav receives 10% of the Rs. 14,800 profit as a working member, which is Rs. 1,480, leaving Rs. 13,320 to be distributed. The remaining profit is divided in the ratio of their investment-months, which is (13000 * 3) : (16000 * 6) : (30000 * 5) = 39 : 96 : 150. Gowrav's share of the remaining profit is therefore (150 / 285) * 13320, which is approximately Rs. 7010.5.