Partnership Questions Answers MCQ for Insurance Exams

Scholarship Examination in India

Partnership Solved Questions For IBPS, SBI and Other Bank Exams

 

1.A, B and C started a business with investment in the ratio 5:6:8 respectively. After one year C withdraw 50% of his capital and A increased his capital by 60% of his investment. After two years in what ratio should the earned profit be distributed among A, B and C respectively ?

a)13:12:12
b)10:9:8
c)5:6:7
d)4:3:3
e)4:1:5

2.Prakash, Sunil and Anil started a business jointly investing Rs.11 lakhs, Rs.16.5 lakhs and Rs.8.25 lakhs respectively. The profit earned by them in the business at the end of three years was Rs.19.5 lakhs. What will be the 50% of Anil’s share in the profit ?
a)Rs.5 lakhs
b)Rs.3.5 lakhs
c)Rs.2.25 lakhs
d)Rs.1.75 lakhs
e)Rs.4.75 lakhs

3.Rs.73689 are divided between A and B in the ratio 4:7. What is the difference between thrice the share of A and twice the share of B ?
a)Rs.15336
b)Rs.13398
c)Rs.22726
d)Rs.18225
e)Rs.12121

4.A starts a business with an initial investment of Rs.18000. After 4 months, B enters into the partnership with an investment of Rs.24000. Again after two months C enters with an investment of Rs.30000. If C receives Rs.1845 in the profit at the end of the year, what is the total annual profit ? 
a)Rs.6600
b)Rs.6027
c)Rs.6450
d)Rs.7250
e)Rs.5575

5.Two persons A and B start a business with investments of Rs.24000 and Rs.28000 respectively. After 4 months C also joined them with certain investment. Total profit at the end of the year was Rs.19950. C’s share in profit was Rs.7600. What was the C’s investment in the business ?
a)Rs.42000
b)Rs.44450
c)Rs.39500
d)Rs.48000
e)Rs.52000

6.A man has divided his total money in his will in such a way that half of it goes to his wife, 2/3rd of the remaining among his three sons equally and the rest among his four daughters equally. If each daughter gets Rs.20000, how much money will each son get ?
a)Rs.53,333.33
b)Rs.52,222.22
c)Rs.44,444.44
d)Rs.38,888.88
e)Rs.55,555.55

7.Sunetra invested an amount of Rs.50000 to start a software business. After six months Nikhil joined her with an amount of Rs.80000. At the end of 3 years they earned a profit of Rs24500. What is Sunetra’s share in the profit ?
a)Rs.9423
b)Rs.12500
c)Rs.14000
d)Rs.10250
e)None of these

8.Mr. Shivkumar started a business investing Rs.25000 in 1996. In 1997 he invested an additional amount of Rs.10000 and Mr. Rakesh joined him with an amount of Rs.35000. In 1998, Mr. Shivkumar invested another additional amount of Rs.10000 and Mr. Suresh joined them with an amount of Rs.35000. What will be Rakesh’s share inthe profit of Rs.1,50,000 earned at the end of three years from the start of the business in 1996 ?
a)Rs.50000
b)Rs.60000
c)Rs.70000
d)Rs.80000
e)Rs.90000

9.X, Y and Z were sharing profits in the ratio 4:3:2. Y retired from the firm and X and Z decide to share profits in the ratio 3:2. Calculate the gaining ratio.
a)4:5
b)3:7
c)5:7
d)8:9
e)7:8

10.A starts a business with an investment of Rs.16000. After 3 months B joins the partnership with an investment equal to 5/8th of A’s investment and A withdraws Rs.2000 from the business. After 3 months more C joins the partnership with an investment of Rs.9000. In the end of the year , C gets Rs.1026 as his share in profit.

Find A’s share in the profit.
a)Rs.3500
b)Rs.3400
c)Rs.3306
d)Rs.3700
e)Rs.3706

 

 Question Bank for Insurance Exams – Prepare for OICL, UIIC, LIC, AIC 2018

 

Answer key

1.a)
2.c)
3.b)
4.b)
5.d)
6.a)
7.e)
8.a)
9.e)
10.c)

 

 

 

Solution

1.Total equivalent capital of A for 1 month
= 5x × 12 + 8x × 12 = 156x
Total equivalent capital of B for 1 month
= 6x × 24 = 144x
Total equivalent capital of C for 1 month
= 8x × 12 + 4x × 12 = 144x
Required ratio
= 156x : 144x : 144x
= 13 : 12 : 12

2.Ratio of the equivalent capitals of Prakash, Sunil and Anil for 1 month
= (11 × 36) : (16.5 × 36) : (8.25 × 36)
= 4 : 6 : 3
Anil’s share in the profit
= [3/(4 + 6 + 3)] × 19.5
= Rs.4.5 lakhs
50% of 4.5 lakhs = Rs.2.25 lakhs

3.Required difference
= [(7/11 × 2) – (4/11 × 3)] × 73689
= Rs.13398

4.Ratio of equivalent capitals for 1 month
= (18000 × 12) : (24000 × 8) : (30000 × 6)
= 18 : 16 : 15
Sum of ratios = 18 + 16 + 15 = 49
Let, the total profit be Rs.x, then
C’s profit = 15x/49
now, 15x/49 = 1845
or, x = (1845 × 49)/15 = 6027

5.C’s investment = Rs.x thousand
Therefore, ratio of their equivalent capitals for 1 month
= (12 × 24000) : (12 × 28000) : (8 × x × 1000)
= 36 : 42 : x
Sum of ratios = 78 + x
C’s share = x/(78+x) × 19950
or, (19950x)/(78 + x) = 7600
or, x = 59280/1235 = Rs.48000

6.Let the total money be x
Half of the total money goes to wife = x/2
2/3rd of the remaining x/2 = x/3 is divided equally among three sons.
The share of each son
= 1/3 × x/3 = x/9
and (x/2 – x/3) = x/6 is divided equally among four daughters.
The share of each daughter
= 1/4 × x/6 = x/24
Now, x/24 = 20000
or, x = 480000
The share of each son
= 480000/9 = Rs.53,333.33

7.The ratio of capital invested by each partner for 1 month in order to get the same profit
= (36 × 50000) : (30 × 80000)
= 3 : 4
Share of Sunetra = (3/7) × 24500 = Rs.10500

8.Shivkumar’s equivalent capital
= (25000 × 3) + (10000 × 2) + (10000 × 1)
= 105000
Rakesh’s equivalent capital
= 35000 × 2 = 70000
Suresh’s equivalent capital
= 35000 × 1 = 35000
Total profit of Rs.150000 will be distributed in the ratio of their equivalent capitals.
Shivkumar : Rakesh : Suresh
= 105 : 70 : 35
= 3 : 2 : 1
Rakesh’s share = [2/(3 + 2 + 1)] × 150000 = Rs.50000

9.Gaining ratio
= (3/5 – 4/9) : (2/5 – 2/9)
= 7 : 8

10.B’s investment
= (16000 × 5)/8 = Rs.10000
Ratio of equivalent capitals of A, B and C for 1 month
= (3 × 16000 + 9 × 14000) : (10000 × 9) : (9000 × 6)
= 29 : 15 : 9
Now, 9 ≡ 1026
or, 29 = (1026 × 29)/9 = Rs.3306

 

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