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Partnership - Online Quiz

Following quiz provides Multiple Choice Questions (MCQs) related to Partnership. You will have to read all the given answers and click over the correct answer. If you are not sure about the answer then you can check the answer using Show Answer button. You can use Next Quiz button to check new set of questions in the quiz.

Q 1 - Ramesh , suresh and kumar are partnersin a business. They invested their capital in the ratio of 3:4:7. An amount of Rs. 21000 earned by them at the end of the year, How much share kumar earned in this profit?

Answer : B

Explanation

Ramesh : suresh : kumar = 3:4:7
Share of Kumar = Rs. (21000* 7/14) = Rs. 10500

Q 2 - Ajay , Bijender and chaman started a business and invested Rs. 20000 each partner .After the period of 4 month, some changes are made in investment just like Ajay withdraw Rs. 5000, Bijender and chaman both add 6000 each in the invested capital. An amount of Rs. 69900 recorded as a profit in the firm. What should be the share of Bijender in profit?

Answer : B

Explanation

Ajay : Bijender: chaman = (20000*5+15000*7) : (20000*5+ 16000*7) :(20000*5+26000*7)
= 205000: 212000 : 262000 =  205 : 212: 282
Share of B  in profit =  Rs. (69900* 212/699) = Rs. 21200

Q 3 - The proportion of partners capital in a business are 1/3 of A , 1/4 of B and 1/5 of C. After the period of 4 month 1/2 part of his investment withdraw by A .if the total profit of Rs. 8470 earned by the firm then what should be the share of A?

Answer : B

Explanation

In the starting time ratio of capitals = 1/3 : 1/4 : 1/5 = 20: 15: 12
Suppose A, B and C invest  Rs. 20x , Rs. 15x and 12x  respectively.
A: B:C = (20*4+ 10x*8) : (15*12) : (12x * 12)  = 160x : 180x : 144x = 40: 45: 36
Share of A  = Rs. ( 8470* 40/121) = Rs. 2800

Q 4 - 12:11 was the investment ratio of A and B who started a business and the ratio of profit were 4:1 . The period ofA investment was 11 month and what was the period of B investment?

Answer : A

Explanation

Rs. 12x and Rs. 11 x is the investment in a business. If for the y month money  invested by B .then,
A: B  = (12x*11) : (11x*y) = (132x : 11xy) = (12: y)
∴ 12/y = 4/1 = 4y = 12 ⇒ y = 3
So, we can say B invested his share for the period of 3 months in the business.

Q 5 - A VcR at a rent of Rs. 350 taken by Three partner A,B and C. They use it for 6 hours , 10 hours and 12 hours respectively. What should be the share of C in rent?

Answer : A

Explanation

Rent paid by them in the ratio = 6 : 10: 12 = 3: 5:6
Rent paid by C = (6/14* 350) = 150 Rs.

Q 6 - What should be the ratio of profit between A, B and C after the period of 3 years. If A invest 25 lakhs at starting of the business and Rs. 10 lakhs also add after one year and B invest 35 lakhs in the starting and Rs. 10 lakhs withdraw after 2 year and C invested 30 lakhs only from starting.

Answer : D

Explanation

Investment of A = Rs. (25*1+ 35*2) = Rs. 95
Investment of B = Rs. (35*2+25*1) = Rs. 95
Investment of C = Rs.  (30*3) = Rs. 90
∴  A:B:C = 95:95: 90 = 19: 19: 18

Q 7 - In the ratio of 5:7:6 money was invested by three partners A ,B and C . 26% , 20% and 15% investment increased by them respectively in the next year. What should be the ratio of profit in the second year?

Answer : A

Explanation

If rs. 5x,7x and 6x is the investment  in the first year by A: B:C . then
the investment in the second year by A ,B and C = (126% of 5x ), (120% of 7x) and (115% of 6x)
(126/100*5x) : (120/100*7x) : (115/100*6x) = 630 : 840: 690 =  21: 28: 23

Q 8 - Mr X, Mr Y and Mr Z invest Rs 1500, Rs 2000 and Rs 2500 respectively in a business. The profit earned is Rs 1200. Find the share of each in the profit.

Answer : A

Explanation

Ratio of investments = X : Y : Z
= 1500 : 2000: 2500
= 3 : 4 : 5
Sum of the ratios = 3 + 4 + 5 = 12
Share in the profit:

For Mr X = (3/12)*1200 = Rs 300
For Mr Y = (4/12)*1200 = Rs 400
For Mr Z = (5/12)*1200 = Rs 500

Q 9 - Ram starts a business with Re 2 lakhs. Four months later Shyam joins him with rs 4 lakhs. Hari joins them for last three months with a capital of Re 6 lakhs. The profit at the year end is Re 7400. Find the share of each in the profit.

Answer : C

Explanation

Ram's contribution is for 12 months.
Shyam's contribution is for 8 months.
Hari's contribution is for 3 months.

Ram's contribution of Re 2 lakhs for 12 months is equivalent to Re (2*12) = Re 24 lakhs in 1 month
Shyam's contribution is equivalent to Re (4*8) = Re 32 lakhs in 1 month
Hari's contribution is equivalent to Re (6*3) = Re 18 lakhs in 1 month

Share in the profit should be in the ratio = 24 : 32 : 18
= 12 : 16 : 9
Sum of ratios = 12 +16 + 9 = 37
Ram's share = 12/37 * 7400 = Re 2400
Shyam's share = 16/37 * 7400 = Re 200
Hari's share = 9/37 * 7400 = Re 1800

Q 10 - Amit and Binod enter into partnership business with Re 5000 and Re 4000 respectively. After 1/4th of the time Amit contributes additional Re 2000. One month after the start of the business, Binod withdraws 1/4th his capital. Jagan then joins the business with a capital investment of Re 7000. The profit at the year-end is Re 2304. Find the share of profit for each investors.

Answer : A

Explanation

Bringing down the investment to 1 month,
Amit's investment = (5000*12) + (2000*9) = Re 78000
Binod's investment = (4000*1) + (3000*11) = Re 37000
Jagan's investment = (7000*11) = Re 77000

Amit : Binod : Jagan = 78 : 37 : 77

Sum of ratios = 78+37+77 = 192

Amit's share = 78/192 * 2304 = Re 936
Binod's share = 37/192 * 2304 = Re 444
Jagan's share = 77/192 * 2304 = Re 924

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