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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 - If a business started by three partners A, B and C with the investment of Rs. 26000 , 34000 and 10000 respectively.An amount of Rs. 3500 earned by them at the end of the year, find out the B share in profit?

Answer : C

Explanation

A: B: C = 26000: 34000: 10000 = 13: 17: 5
Share of B = Rs.  (3500* 17/35) = Rs. 1700

Q 2 - There are three partners in a firm and condition of investment by them is that at the beginning time investment done by A and after the period of 6 month B invested double than A and C invested 8month later but 3 times in the comparision of A. If annual profit Rs. 27000 is announced then what will be the share of profit in the favour of C?

Answer : B

Explanation

If x , 2x, 3x amount invested by A, B and C respectively.
A: B: C = (x*12): (2x*6): (3x:4) = 12x:12x: 12x = 1:1:1
Share of C in profit = Rs. (27000* 1/3) = Rs. 9000.

Q 3 - 6 (capital of A) : 8(capital of B) : 10 (capital of C) these condition of investment are in a firm who made by three partners A: B;C . What should be the ratio of capital of A, B and C ?

Answer : D

Explanation

Let    6 (capital of A) : 8(capital of B) : 10 (capital of C) = Rs. x
Then,  A's capital = Rs. x/6  , B?s capital = x/8 and C's capital = x/10
A: B: C =  x/6 : x/8 : x/10  = 1/6 : 1/8 :1/10 = 20: 15: 12

Q 4 - Partners of a firms are A, B and C. Conditions of invest ment are twice the A investment is equal to thrice the capital of B and the capital of B is four times in the comparison of C capital. What should be the share in profit of B if profit earned by Rs. 29700?

Answer : A

Explanation

If 2A = 3B and B = 4C and therefore, 3B = 12 C
∴ 2A =3B = 12C = x ⇒ A = x/2 , B = x/3 , C= x/12
∴  A:B:C = x/2 : x/3 : x/12 = 1/2 : 1/3: 1/12 = 6:4:1
Hence, its proves that share of B = (297000* 4/11) = Rs. 10800.

Q 5 - A pasture taken by four milkmen on rented. A used this 4 month with 18 cows, B 25 cows for two months and C 28 cows for 5month and D 21 cows for 3 month. If 360 Rs. rent paid by A then what should be the total profit ?

Answer : C

Explanation

Rents in the ratio = (18*4) : (25*2): (28* 5) : (21*3) = 72 : 50: 140: 63
Suppose total rent of the pasture is x Rs.
Then Share of A = (72/325*x)   ∴ 72x/325 *360 =  x= 1625
 ∴ total rent of the pasture  is Rs. 1625 .

Q 6 - The partners of a firm are A and B . A invested 3 times in the comparison of his partner. While the period of his investment is 2 times in the comparison of B . What should be the total profit of the firm if Rs. 12000 received by B as a share in profit?

Answer : C

Explanation

If Rs. x for y months is investment of B .
Then the investment of A is  Rs. 3x for the period of 2y.
∴  A: B = (3x*2y) : (x:y) = 6xy : xy = 6: 1
Let the total profit be rs. P . Then,
P* 1/7 = 12000  ⇒ p = 84000.
Hence, the prove that the the profit of the firm is 84000.

Q 7 - In a business A is a active and B is non active partners. Investment of A and B are Rs. 12000 and Rs. 20000. 10% share of profit recived by A for his work and Rest of the profit divided in the ratio of their capital . What should be the share of A if total profit of the firm is 18000?

Answer : C

Explanation

Amount received by A for working = 10% of 18000 = 1800 Rs.
Profit after  A  taken working amount = (18000-1800) = Rs. 16200
A  and B  investment ratio = 12000: 20000 = 3: 5
Share of A = (3/8* 16200) = Rs. 6075
∴ Total amount received by A =  Rs. ( 6075+ 1800) = Rs. 7875

Q 8 - Ram, Mohan and Pawan invest Rs 1000, Rs 4000 and Rs 5000 respectively in a business. At the end of the year the balance sheet shows a loss of 20% of the total initial investment. Find the share of loss of each partner.

Answer : C

Explanation

Total initial investment = Rs (1000 + 4000 + 5000)
= Rs 10000

Total loss = 20% of total investment
=  20/100 * 10000
=  Rs 2000
Ratio of investment by all partners = 1000 : 4000 : 5000
= 1 : 4 : 5
Sum of the ratios = 1 + 4 +5 = 10

Share of loss for Ram = 1/10 * 2000 = Rs 200
Share of loss for Mohan = 4/10 * 2000 = Rs 800
Share of loss for Pawan = 5/10 * 2000 = Rs 1000

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 - Ram, Mohan and Pawan together hold a pasture for which they pay a rent at the rate of Re 160 per month. They rear 70, 50 and 40 cows respectively on it. Ram sells 2/7th of his stock to Mohan after 4 months and further 3 months later Pawan sells 2/5th of his stock to Ram. How much of rent should each pay at the end of the year?

Answer : D

Explanation

Total rent to be paid for 1 year = 160 * 12 = Re 1920
Computing in terms of 1 month,
Ram's share = (70*4) + (70 - 2/7 * 70) * 3 + (70 - 2/7 * 70 + 2/5 * 40) * 5
= (70*4) + (50*3) + (66*5)
= 280 + 150 + 330
= 760

Mohan's share = (50*4) + (50 + 2/7*70)*8
= 200 + 560
= 760

Pawan's share = (40*7) + (40 - 2/5 * 40) * 5
= 280 + 120
=400

So, Ram : Mohan : Pawan = 760 : 760 : 400 = 19 : 19 : 10
Sum of ratios = 19 + 19 + 10 = 48
Rent to paid by Ram and Mohan each = 19/48 * 1920 = Re 760 each
Rent to be paid by Pawan = 19/48 * 1920 = Re 400

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