## Partnership

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This Partnership Test consists of 10 questions.Which are of either 1 mark or 2 Marks.The No.of marks are represented by Points at the side of each question.If you solve all these questions,then there is no need to solve other questions because these 10 questions consists of variety of Concepts.

A part from these,the answers are also provided for each question and will be visible to you if only if the solution is correct.

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- Question 1 of 10
##### 1. Question

1 pointsCategory: PartnershipAnusha,Harika and Santhosh entered into a partnership investing Rs.35000,Rs.45000 & Rs.55000 respectively.Mr.Shafi wants to know the respective shares of Anusha,Harika and Santhosh in an annual profit of 40,500 are:

CorrectThe Answer is ‘A’

**Explanation:**Anusha:Harika:Santhosh = 35000:45000:55000

- Anusha:Harika:Santhosh = 35:45:55
- Anusha:Harika:Santhosh = 7:9:11

Given, profit of 40,500

Consider 7:9:11 =7 Parts:9 parts:11 parts = 7P:9P:11P

Therefore, 7P+9P+11P = 40500

- P=1500

Share of Anusha:Harika:Santhosh=7P:9P:11P

Therefore,

Anusha’s Share =7P = 7*1500=10500

Harika’s Share = 9P=9*1500 =13500

Santhosh’s Share =11P=11*1500=16500

Therefore,The Answer is “

**A”**IncorrectThe Answer is Wrong

————————

The Answer is ‘A’Explanation:

Anusha:Harika:Santhosh = 35000:45000:55000

Anusha:Harika:Santhosh = 35:45:55

Anusha:Harika:Santhosh = 7:9:11

Given, profit of 40,500Consider 7:9:11 =7 Parts:9 parts:11 parts = 7P:9P:11P

Therefore, 7P+9P+11P = 40500

P=1500

Share of Anusha:Harika:Santhosh=7P:9P:11PTherefore,

Anusha’s Share =7P = 7*1500=10500

Harika’s Share = 9P=9*1500 =13500

Santhosh’s Share =11P=11*1500=16500

Therefore,The Answer is “A”

- Question 2 of 10
##### 2. Question

2 pointsCategory: PartnershipVarma started a business investing Rs.45000.After 3 months,Santosh joined him with the capital of Rs.60000.After another 6 months,Maanasa joined with a capital of Rs.90000.At the end of the year they made a profit of 20,000 what would be the Maanasa’s share in it?

CorrectThe Answer is “

**A”****Explanation:****Varma:Santhosh:Maanasa****45K*(12**^{th}month): 60K*(9^{th}month): 90K*(3^{rd}month)- 2 : 2 : 1
- Profit =20000
- 2P+2P+1P=20000
- 5P=20000
- P=4000

**Manasa’s Share**= 1P- 1P=1*4000=
**4000**

IncorrectThe Answer is incorrect

**Solution:**The Answer is “

**A”****Explanation:****Varma:Santhosh:Maanasa****45K*(12**^{th}month): 60K*(9^{th}month): 90K*(3^{rd}month)- 2 : 2 : 1
- Profit =20000
- 2P+2P+1P=20000
- 5P=20000
- P=4000

**Manasa’s Share**= 1P- 1P=1*4000=
**4000**

- Question 3 of 10
##### 3. Question

1 pointsCategory: Partnership**P**And**Q**started a business with initial investments in the ratio of 14:15 and their profits are in the ratio of 7:6.If P invested the money for 10 months,then for how many months did Q invest his money?Correct**The Answer is “C”****Explanation:**Investment = 14:15

Profit = 7:6

P invested the money for 10 months,Then Q(months)=?

**Investment Profit****P Q P Q**P invested the money for 10 months

14*10:15*X

**: :**7:6140:15X

**:: 7:6**Product of Extremities = Product of Means

140*6 =15X*7

**X=8 months****Therefore,Q Invests his money for 8 months.**IncorrectThe Answer is incorrect

**The Answer is “C”****Explanation:**Investment = 14:15

Profit = 7:6

P invested the money for 10 months,Then Q(months)=?

**Investment Profit****P Q P Q**P invested the money for 10 months

14*10:15*X

**: :**7:6140:15X

**:: 7:6**Product of Extremities = Product of Means

140*6 =15X*7

**X=8 months****Therefore,Q Invests his money for 8 months.** - Question 4 of 10
##### 4. Question

2 pointsCategory: PartnershipP,Q and R entered into a partnership.They invested Rs.40000,Rs.80000 and Rs.120,000 respectively.At the end of 1st year,Q withdraws Rs.40000 while at the end of the second year R withdraws Rs.80000.In what ratio will the profit be shared at the end of 3 years?

Correct**The Answer is “A”****Explanation:****P : Q : R = 40,000:80,000:120,000****P : Q : R =40K:80K:120K**

**1**^{st}Year:**P : Q : R****40K:80K:120K**

**2**^{nd}Year:Q withdraws 40K at the end of 1

^{st}Year.**P : Q : R****40K:80K:120K**

**40K:(80K-40K):120K****40K:(40K):120K****3**^{rd}Year:R withdraws 80,000 at the end of 2

^{nd}yearP : Q : R

40K:(40K):120K

40K:40K:(120K-80K)

40K:40K:40K

Now,Add all the 3 years of money that was invested.

**P’s Share :**40K+40K+40K =120K**Q’s Share**:80K+40K+40K =160K**R’s Share:**120K+120K+40K=280KTherefore P:Q:R =120K:160K:280K

Therefore P:Q:R =

**3:4:7**IncorrectThe Answer is incorrect

**The Answer is “A”****Explanation:****P : Q : R = 40,000:80,000:120,000****P : Q : R =40K:80K:120K**

**1**^{st}Year:**P : Q : R****40K:80K:120K**

**2**^{nd}Year:Q withdraws 40K at the end of 1

^{st}Year.**P : Q : R****40K:80K:120K**

**40K:(80K-40K):120K****40K:(40K):120K****3**^{rd}Year:R withdraws 80,000 at the end of 2

^{nd}yearP : Q : R

40K:(40K):120K

40K:40K:(120K-80K)

40K:40K:40K

Now,Add all the 3 years of money that was invested.

**P’s Share :**40K+40K+40K =120K**Q’s Share**:80K+40K+40K =160K**R’s Share:**120K+120K+40K=280KTherefore P:Q:R =120K:160K:280K

Therefore P:Q:R =

**3:4:7** - Question 5 of 10
##### 5. Question

2 pointsCategory: PartnershipThree partners A,B and C started a business.Twice A’s capital is equal to thrice B’s capital and B’s capital is four times C’s capital.Out of a total profit of Rs.16,500 at the end of the Year,B’s share is:

Correct**The Answer is “C”****Explanation:**Given,

2A = 3B & B=4C

From,Ratio’s and Proportions

A:B:C =6:4:1

Given,Profit =Rs.16500

Therefore,6P+4P+1P=16500

- 11P=16500
- 1P=1500

**B’s Share :****4P =4*1500=Rs.6000/-**IncorrectThe Answer is incorrect

**The Answer is “C”****Explanation:**Given,

2A = 3B & B=4C

From,Ratio’s and Proportions

A:B:C =6:4:1

Given,Profit =Rs.16500

Therefore,6P+4P+1P=16500

- 11P=16500
- 1P=1500

**B’s Share :****4P =4*1500=Rs.6000/-** - Question 6 of 10
##### 6. Question

2 pointsCategory: PartnershipP and Q started a business jointly.P’s investment was thrice the investment of Q and the period of his investment was two times the period of investment of Q.If Pavan received 4000 as profit then their total profit is:

Correct**The answer is “D”****Explanation:****P =3Q => P:Q =3:1****P=2Q => P:Q =2:1****P:Q =6:1**

**Given,B’s Profit = 4000/-****1P =4000/-**

**Total Shares=7P****7P=7*4000=28000/-**

**Therefore,Total Profit =28000/-**IncorrectThe Answer is incorrect

**The answer is “D”****Explanation:****P =3Q => P:Q =3:1****P=2Q => P:Q =2:1****P:Q =6:1**

**Given,B’s Profit = 4000/-****1P =4000/-**

**Total Shares=7P****7P=7*4000=28000/-**

**Therefore,Total Profit =28000/-** - Question 7 of 10
##### 7. Question

2 pointsCategory: PartnershipM,N and O enter into a partnership.M invests some money at the beginning and invest double the amount of money after 6 months and O invests thrice the amount after 8 months.If the annual profit be Rs.27000 then what he is O’s share:

Correct**The Answer is “C”****EXPLANATION:****M,N,O entered into Partnership****M : N : O**X*12 : 2X*6 : 3X*4

12X : 12X : 12X

1 : 1 : 1

Given,Profit =Rs.27000/-

From the Above,

1P+1P+1P = 27000

- 3P =27000
- 1P= 9000

**C’s Share =1P=9000/-**IncorrectThe Answer is incorrect

**The Answer is “C”****EXPLANATION:****M,N,O entered into Partnership****M : N : O**X*12 : 2X*6 : 3X*4

12X : 12X : 12X

1 : 1 : 1

Given,Profit =Rs.27000/-

From the Above,

1P+1P+1P = 27000

- 3P =27000
- 1P= 9000

**C’s Share =1P=9000/-** - Question 8 of 10
##### 8. Question

2 pointsCategory: PartnershipSantosh is a working partner and Varma is a sleeping partner.In a business,Santosh invests Rs.12000 rupees and Varma invest Rs.20000 rupees.Santosh receives 10% of the profit for managing and rest being divided in proportion to their capitals out of a total profit of Rs.9600.The money received by Santosh is

Correct**The Answer is “C”****EXPLANATION:**Santosh = Working Partner

Varma = Sleeping Partner

**Santosh Varma**Rs.12000/- : Rs.20000/-

Rs.12K : Rs.20K

3 : 5

**Santosh = Working Partner = 10% Share of Profit=960**Profit =9600/-

**9600-960 = 8640**3P+5P=8640

8P =8640

**1P = 1080****Money Received by Santosh = 3P+960**=(3*1080)+960

=4200

**Money Received by Santosh =Rs.4200/-**IncorrectThe Answer is incorrect

**The Answer is “C”****EXPLANATION:**Santosh = Working Partner

Varma = Sleeping Partner

**Santosh Varma**Rs.12000/- : Rs.20000/-

Rs.12K : Rs.20K

3 : 5

**Santosh = Working Partner = 10% Share of Profit=960**Profit =9600/-

**9600-960 = 8640**3P+5P=8640

8P =8640

**1P = 1080****Money Received by Santosh = 3P+960**=(3*1080)+960

=4200

**Money Received by Santosh =Rs.4200/-** - Question 9 of 10
##### 9. Question

2 pointsCategory: PartnershipP,Q and R Jointly thought of engaging themselves in a business venture.It was agreed that P would invest Rs.6500 rupees for 6 months,Q,8400 for 5 months and R,Rs.10,000 for 3 months.P wants to be the working member for which he was to receive 5% of the profits.The profit earned was Rs.7400.Calculate the share of B in the profit:

Correct**The answer is “B”****EXPLANATION:****P Q R**6500*6 : 8400*5 : 10000*3

**13 : 14 : 10**P is a working Partner

P =5% of Profits

P = 5% of 7400

**P=Rs.370**Before dividing the profits,Rs.370 has to be deducted from the Total Profit of 7400 i.e.Rs.7030/-

**Now,Rs.7030 is divided in between P,Q&R**13P+14P+10P = 7030

1P = 190

**Q’s Share =14P=14*190=Rs.2660/-**IncorrectThe Answer is incorrect

**The answer is “B”****EXPLANATION:****P Q R**6500*6 : 8400*5 : 10000*3

**13 : 14 : 10**P is a working Partner

P =5% of Profits

P = 5% of 7400

**P=Rs.370**Before dividing the profits,Rs.370 has to be deducted from the Total Profit of 7400 i.e.Rs.7030/-

**Now,Rs.7030 is divided in between P,Q&R**13P+14P+10P = 7030

1P = 190

**Q’s Share =14P=14*190=Rs.2660/-** - Question 10 of 10
##### 10. Question

2 pointsCategory: PartnershipVinay started a business investing Rs.25000 in 2016.In 2017,he invested an additional amount of Rs.10,000 and Vamshi joined him with an amount of Rs.35000 in 2018,Vinay invested another additional amount of Rs.10,000 and Anil joined them with an amount of Rs.35000.What will be Vamshi’s share in the profit of Rs.1,50,000 at the end of 3 years from the start of the business in 2016?

Correct**The Correct Answer is “D”****EXPLANATION:****Vinay Vamshi Anil****2016**Rs.25000**2017**Rs.25000+10000 Rs.35000**2018**25000+10000+10000 – Rs.35000Therefore,

**Vinay Vamshi Anil****2016**25000**2017**Rs.35000 Rs.35000**2018**45000 Rs.35000 Rs.35000Vinay’s Share at the end of 3 Years = 25000+35000+45000=105000

Vamshi’s Share at the end of 3 Years = 70000

Anil’s Share at the end of 3 Years = 35000

Vinay :Vamshi:Anil =105000:70000:35000

Vinay :Vamshi:Anil = 3 : 2 : 1

6P=150000

**1P=25000/-****Vamshi’s Share =2P****2*25000****50000/-**

IncorrectThe Answer is incorrect

**The Correct Answer is “D”****EXPLANATION:****Vinay Vamshi Anil****2016**Rs.25000**2017**Rs.25000+10000 Rs.35000**2018**25000+10000+10000 – Rs.35000Therefore,

**Vinay Vamshi Anil****2016**25000**2017**Rs.35000 Rs.35000**2018**45000 Rs.35000 Rs.35000Vinay’s Share at the end of 3 Years = 25000+35000+45000=105000

Vamshi’s Share at the end of 3 Years = 70000

Anil’s Share at the end of 3 Years = 35000

Vinay :Vamshi:Anil =105000:70000:35000

Vinay :Vamshi:Anil = 3 : 2 : 1

6P=150000

**1P=25000/-****Vamshi’s Share =2P****2*25000****50000/-**