Partnership MCQ Quiz - Objective Question with Answer for Partnership - Download Free PDF

Given:

Investment by A = Rs. x

Investment by B = Rs. (x + 5000)

Profit share ratio of A to B = 7 : 9

Formula used:

Profit share ratio = Investment ratio (since profit is directly proportional to investment)

Calculations:

Let the total profit be P.

The ratio of profit shares of A and B is given as 7:9. So, the profit for A is 7 parts and for B is 9 parts.

The total parts = 7 + 9 = 16 parts.

The profit share of A and B is directly proportional to their investments.

Investment of A / Investment of B = Profit share of A / Profit share of B

So, x / (x + 5000) = 7 / 9

Cross multiplying:

9x = 7(x + 5000)

9x = 7x + 35000

9x - 7x = 35000

2x = 35000

x = 35000 / 2 = 17500

Now, find the value of 7x:

7x = 7 × 17500 = 122500

∴ The value of 7x is Rs. 122500.

Calculation

Let R initial investment = 2x

After, five-month R investment = 2x × [150 /100] = 3x

V investment after seven months = 7000 × 7 /10 = 4900

Profit ratio of R to that of V

= (2x × 5 + 3𝑥 × 7) : (7000 × 7 + 4900 × 5)

= 31x: 73500

ATQ

[31𝑥/73500] = [1550 / (3020 – 1550)]

x = 2500

R initial investment = 2x = Rs 5000

So, X = 5000

Calculation:

Year 1:

A’s investment = Rs. (x + 4000)

B’s investment = Rs. (2x – 2000)

Total profit = Rs. 25,504

A’s share = Rs. 11,158

We will first find the ratio of investments (since time is the same for both), and then form an equation to find x.

So, B’s share = 25504 – 11158 = 14346

So, the ratio of the profit amount of A and B is 11158:14346 = 7 : 9

Let’s write the profit sharing ratio:

So, [x + 4000] : [2x – 2000] = 7 /9

Or, 9x + 36000 = 14x – 14000

Or, 5x = 50000

Or, x = 10000

Total profit in 2nd year = x + 11760 =10000 + 11760 = Rs.21760

Manager gets 20%:

0.2 × 21760 = Rs.4352

Clerk gets 10%:

0.1 × 21760 = Rs.2176

Remaining profit to be shared between A and B:

21760 − (4352 + 2176) = 21760 – 6528 = Rs.15232

Ratio A : B = 7 : 9

Total parts = 16

B's share = [9/16] × 15232 = 8568​

B’s share in 2nd year = Rs. 8568.

The correct answer is Option (1).

Given:

Initial investments:

A = ₹4200, B = ₹8400, C = ₹5400

Profit after 1^st year = ₹6000 (divided in investment ratio)

Formula used:

Profit ratio ∝ Investment × Time

Calculation:

Initial ratio = 4200 : 8400 : 5400 = 7 : 14 : 9

Total parts = 7 + 14 + 9 = 30

Profits after 1^st year:

A = 6000 × 7/30 = ₹1400

B = 6000 × 14/30 = ₹2800

C = 6000 × 9/30 = ₹1800

New investments in 2^nd year:

A = 4200 + 1400 = ₹5600

B = 8400 + 2800 = ₹11200

C = 5400 + 1800 = ₹7200

New ratio = 5600 : 11200 : 7200 = 7 : 14 : 9

∴ Ratio of profit at the end of next year = 7 : 14 : 9

Given:

P invested = ₹5,00,000

Q invested = ₹4,00,000 (after 3 months)

Q received ₹50,000 total, including 20% of total profit as management share

Formula used:

Profit ratio ∝ Investment × Time

Calculation:

P’s investment for 12 months = 5,00,000 × 12 = 60,00,000

Q’s investment for 9 months = 4,00,000 × 9 = 36,00,000

Ratio of profit (P : Q) = 60 : 36 = 5 : 3

Let total profit = x

Q’s total share = ₹50,000

Management share = 20% of x = 0.2x

Remaining profit = 0.8x

Q’s share in remaining = 3/8 of 0.8x = 0.3x

Total received by Q = 0.2x + 0.3x = 0.5x

⇒ 0.5x = 50000

⇒ x = 1,00,000

P’s share = 5/8 of 0.8x = 0.5x = ₹50,000

∴ Amount received by P = ₹50,000

Given:

A invested Rs. 29,000, while B and C invested Rs. 25,000 each

After 4 months, A withdrew Rs. 3,000

After 6 months from the initial date, C invested Rs. 12,000 more to the business

The total profit = Rs. 33200

Calculation:

The ratio of A, B, and C = [(29000 × 4) + (26000 × 8)] : (25000 × 12) : [(25000 × 6) + (37000 × 6)]

= (116000 + 208000) : 300000 : (150000 + 222000)

= 324000 : 300000 : 372000

= 27 : 25 : 31

∴ The profit of C = (31/83) × 33200 = Rs. 12400

∴ The share of C( in Rs.) in the profit at the end of the year is Rs. 12400

Given:

A sum of 12540 is divided among A, B, and C.

Calculation:

Share of A = 

Share of B = 

Share of C = 12540 - (3762 + 2280) = 6498

∴ The share of C is Rs. 6498.

Given:

Peter started a retail business by investing Rs. 25000 

After eight months Sam joined him with a capital of Rs 30,000. 

After 2 years they earned a profit of Rs 18000

Concept Used:

The ratio of profit is equal to the ratio of the product of capital and time

Calculation:

The time period of Peter = 24 months

The time period of Sam = 16 months

Now,

25000 × 24 : 30000 × 16 = 5 : 4

∴ Peter’s share = (5/9) × 18000 = Rs. 10,000

Given:

Person A started a business by investing Rs. 65,000.

After a few months, B joined him by investing Rs. 50,000.

Three months after the joining of B, C joined the two with an investment of Rs. 55,000.

A got 50% of profit as his share.

Formula used:

Profit ratio = Investment1 × Time₁ : Investment₂ × Time₂ : ........... Investment_n × Time_n

Calculation:

Let B invest the amount after x months

A invest for 12 month

B invest for (12 - x)

​⇒ (12 - x) months

Three months after the joining of B, C joined the two with an investment of Rs. 55,000.

C invest for (12 - x - 3)

⇒ (9 - x)

Profit share = A : B : C

Profit share = 65,000 × 12 : 50,000 × (12 - x) : 55,000 × (9 - x)

⇒ 156 : 10(12 - x) : 11(9 - x)

A got 50% of profit as his share

⇒ 156/(156 + 120 - 10x + 99 - 11x) = 1/2

⇒ 312 = 375 - 21x

⇒ 21x = 63

⇒ x = 3 month 

∴ A alone finance the business for 3 month.

Given :

The ratio of investments of A  B and C = 3 : 2 : 6

After 6 months C withdraws half of his capital

Total profit earned in the year = Rs. 53010

Concept:

Investment = Capital x Duration of investment (in months)

Ratio of profits = Ratio of investments around 1 year

Calculation :

Let, the initial capital of A, B and C be 3a, 2a, and 6a

Now, Investment of A for 1 year = 12 x 3a = 36a

Investment of B for 1 year = 12 x 2a = 24a

According to the given data, C invested 6a for the first 6 months and 3a for the next 6 months.

Investment of C for 1 year = 6 x 6a + 6 x 3a = 54a 

Now, Ratio of their profits = 36a : 24a : 54a = 6 : 4 : 9

∴ Profit made by A = 

⇒  × 53010 = Rs. 16740

∴ The profit made by A is Rs. 16740.

Shortcut TrickRatio of their profits = 

Profit of A = 

Mistake Points According to the given data, C invested his initial amount for 6 months and after that, he withdrew half of his initial amount.

Given:

A, B, and C invested ₹40000, ₹48000, and ₹80000, respectively

The total profit = ₹ 672000

Calculation:

After six months, for the remaining time of the year, A added ₹4000, B added ₹4000 and C withdrew ₹4000 every month.

So, (4000 × 6) + (4000 × 5) + (4000 × 4) + (4000 × 3) + (4000 × 2) + (4000 × 1) = 4000 × 21 = 84000

A : B : C = [(40000 × 12) + 84000] : [(48000 × 12) + 84000] : [(80000 × 12) - 84000]

= (480000 + 84000) : (576000 + 84000) : (960000 - 84000)

= 564000 : 660000 : 876000

= 564 : 660 : 876

The share of C = [876/(564 + 660 + 876)] × 672000

= (876/2100) × 672000

= 280320

∴ C's share is ₹ 280320

Calculation:

Total capital invested by A = 60,000 × 12 + 90,000 × 12 = 720,000 + 1,080,000 = Rs 1,800,000

Total capital invested by B = 80,000 × 9 + 75,000 × 12 = 720,000 + 900,000 = Rs 1,620,000

Ratio = 1,800,000 : 1,620,000 = 10 : 9

Let the total profit earned is 4p

Now, out of 4p profit, 2p is equally divided between A and B.

A's profit-

⇒ p +  × 2p = 35,880

⇒ 39p = 35,880 × 19

⇒ p = 35,880 ×  = Rs 17,480

Now,Profit earned by B = p +  × 2p  =  =  × 17,480

⇒ Profit of B = Rs 34,040.

∴ The profit of B is Rs 34,040.

Given:

X, Y and Z started their business by investing ₹40,000, ₹38,000 and ₹30,000

Concept Used:

Profit = Amount of Investment × Time of Invest

Calculation:

Investment at the end of the year of X = 40000 × 6 + 60000 × 6 = 240000 + 360000

⇒ 600000

Investment at the end of the year of Y = 38000 × 6 + 30000 × 6 = 228000 + 180000

⇒ 408000

Investment at the end of the year of Z = 30000 × 6 + 45000 × 6 = 180000 + 270000

⇒ 450000

Ratio of profit share ratio = 600000 : 408000 : 450000

⇒ 100 : 68 : 75

Share of Y = 38880 × (68/243)

⇒ 10880

∴ The share of Y (in ₹) in the total profit of ₹38,880 made at the end of the year is 10880.

Given data:

Profit ratio = 5 : 9

Investment of B = Rs 36,000

Time for which B invested = 12

Time for which A invested = 8

Formula used:

Total profit = Investment × time

Calculation:

Total investment of A = A × 8

Total investment of B = 36,000 × 12 = 432,000

Ratio = 8A : 432,000

⇒  = 

⇒ A =  = Rs 30,000

∴ The total investment of A is Rs 30,000.

Given:

Three partners shared the profit in a business in the proportion of 9 ∶ 8 ∶ 11. They invested their capital for 4 months, 6 months, and 18 months, respectively. 

Concept used:

Profit is shared according to the capital invested.

Total investment = Invested Capital × Time period of the investment

Calculation:

Let the invested capital by them be P, Q, and R respectively.

According to the concept,

(P × 4) : (Q × 6) : (R × 18) = 9 : 8 : 11

⇒ 4P : 6Q : 18R = 9 : 8 : 11

Equating individual terms we get,

4P = 9

⇒ P = 9/4

Similarly, Q = 8/6 & R = 11/18

Now, we get,

P : Q : R = 9/4 : 8/6 : 11/18

⇒ P : Q : R = 9/4 × 36 : 8/6 × 36 : 11/18 × 36 

⇒ P : Q : R = 81 : 48 : 22

∴ The ratio of their capitals is 81 : 48 : 22.