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Test: Partnership - 1 - UPSC MCQ


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10 Questions MCQ Test CSAT Preparation - Test: Partnership - 1

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Test: Partnership - 1 - Question 1

A, B and C invest in a business in the ratio 4 ∶ 5 ∶ 7. C is a sleeping partner, so his share of profits will be half of what it would have been if he were a working partner. If they make Rs 36,000 profit of which 25% is reinvested in the business, how much does B get (in Rs)?

Detailed Solution for Test: Partnership - 1 - Question 1

Since C is the sleeping partner and his share of profit will be half of what it would have been if he were a working partner
⇒ Ratio in which the profit will be shared = 4 ∶ 5 ∶ 7/2 = 8 : 10 : 7
Profit = 36000 and when 25% is reinvested then
Profit to be shared between A, B & C = 36000 × 0.75 = Rs. 27000
∴ B’s share = 10/25 × 27000 = Rs. 10800

Test: Partnership - 1 - Question 2

Kirti starts a business with Rs. 10,000 and later Suma joined her with Rs. 30,000. After how many months did suma joined, if the profit is distributed in equal ratio at the end of year?

Detailed Solution for Test: Partnership - 1 - Question 2

Given
Kirti started the business = Rs. 10,000 
Suma joined the business = Rs. 30,000 

Formula 
Profit = Investment × time 

Calculation 
Let, Suma joined Kirti after X months
⇒ 10,000 × 12 = 30,000 × (12 - X)
⇒ 1,20,000 = 3,60,000 – 30,000X
⇒ 3,60,000 – 1,20,000 = 30,000X
⇒ 2,40,000 = 30,000X
⇒ X = 8 Months
∴ Suma joined kirti after 8 months.

Test: Partnership - 1 - Question 3

A, B and C started a business in partnership. Initially, A invested Rs. 29,000, while B and C invested Rs. 25,000 each. After 4 months, A withdrew Rs. 3,000. After 2 more months, C invested Rs. 12,000 more. Find the share of C( in Rs.) in the profit of Rs. 33,200 at the end of the year.

Detailed Solution for Test: Partnership - 1 - Question 3

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

Test: Partnership - 1 - Question 4

Jayesh started project with Rs. 6000. Due to some issue, project stuck for 2 months and after that due to financial issue it doesn’t progress more 4 months. After that Dinesh helped Jayesh with Rs. 8000 and complete the project. At the end of year if the project generate the revenue of Rs. 20, 000. The share of profit of Dinesh is Rs.

Detailed Solution for Test: Partnership - 1 - Question 4

Given:
Jayesh started project with Rs. 6000
Due to some issue, project stuck for 2 months and after that due to financial issue it doesn’t progress more 4 months = (2 + 4) = 6 months
Dinesh helped Jayesh with Rs. 8000
The project generate the revenue in the end of the year = Rs. 20,000

Calculation:
Costing spend on Project = (6000 + 8000) = Rs. 14,000
Net profit = revenue – cost = (20,000 – 14,000) = Rs. 6,000
For the share of individual,
Jayesh’s investment × time period ∶ Dinesh’s investment × time period = 6000 × 12 ∶ 8000 × 6
⇒ Respected ratio = 3 ∶ 2
Now,
Share of Dinesh = [(2/5) × 6000] = Rs. 2400
∴ The share of profit of Dinesh is Rs. 2400.

Test: Partnership - 1 - Question 5

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. What was the share of Peter in the profit?

Detailed Solution for Test: Partnership - 1 - Question 5

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

Test: Partnership - 1 - Question 6

Three partners invested in the ratio 4 : 6 : 9 for 3 years, 1 year and 4 years respectively. The total profit was 180000. What is the profit share of B?

Detailed Solution for Test: Partnership - 1 - Question 6

Given:
Three partners invested in the ratio 4 : 6 : 9 for 3 years, 1 year and 4 years respectively. The total profit was 180000.

Formula:
Ratio of Profit = ratios of product of Amount invested and time

Calculation:
Let the investments by A , B and C be 4x, 6x and 9x respectively
Ratio of profit = amount × time
Ratio of profits of A, B and C = 4x × 3 : 6x × 1 : 9x × 4 = 2x : x : 6x
Profit of B = x/9x × profit = 1/9 × 180000 = 20000

Test: Partnership - 1 - Question 7

P, Q and R started a business by investing in the ratio 6 : 6 : 8  for 1 year. Then they donate of  20% in school and remaining profit are distributed P, Q and R. If R profit is Rs. 600 greater than Q , then find the total profit.

Detailed Solution for Test: Partnership - 1 - Question 7

Given:
P, Q and R invest in ratio  6 : 6 : 8 in 1 year and 20% donate in school 
And R profit greater than  Q in Rs. 600

Calculation: 
Let total profit = 100 unit 
20% donates in school 
⇒ 100 unit × 20% = 20 unit 
 Remaining = 80 unit
 According to question,
total profit = P + Q + R = 6 + 8 + 6 = 20x
⇒ 20x = 80 unit 
⇒ 1x = 4 unit 
So, profit of P's = 6 × 4 = 24,  R's = 8 × 4 = 32 
And Q's = 6 × 4 = 24 
We have given,
Profit of R is Rs.600 greater than Profit of Q
⇒  32 - 24 = 600
⇒ 8 = 600
⇒ Total profit = 600/8 x 100 = 7500
Total profit  Rs. 7500

Test: Partnership - 1 - Question 8

A and B invested Rs. 12000 and Rs. 16000 in partnership in a business. C also joined them after 8 months with an investment of Rs. 15000. What will be the share of C in a profit of Rs. 45600 after 2 years?

Detailed Solution for Test: Partnership - 1 - Question 8

Given:
Amount invested by A = Rs 12000
Amount invested by B = Rs 16000
Amount invested by C = Rs 15000
Total profit after 2 years = Rs. 45600

To find:
The share of C in a profit

Concept used:
Total amount = amount invested × number of months

Calculation:
Total amount invested by A = 12000 × 24
⇒ Total amount invested by A = 288000
⇒ Total amount invested by B = 16000 × 24
⇒ Total amount invested by B = 384000
⇒ Total amount invested by C = 15000 × 16
⇒ Total amount invested by C = 240000
⇒ The ratio of their investment ie. A : B : C = 288000 : 384000 : 240000
⇒ The ratio of their investment ie. A : B : C = 6 : 8 : 5
⇒ C's share in profit = (5/19) × 45600
⇒ C's share in profit = 12000
∴ The C's share in profit is Rs. 12000.

Test: Partnership - 1 - Question 9

A starts a business with Rs. 4500 and after 4 months, B joins with some capital. At the end of the year, the profit is divided in the ratio 3 : 4. What is B's contribution to the business?

Detailed Solution for Test: Partnership - 1 - Question 9

Given:
A’s contribution = Rs. 4500
Profit ratio = 3 : 4

Formula used:

Calculation:
Let the Contribution of B is Rs. x
A invested for 12 months and B invested for (12 – 4) = 8 months
⇒ (4500 × 12)/(x × 8) = ¾
⇒ (4500 × 12 × 4)/(3 × 8) = x
⇒ x = 9000
∴ Contribution of B to the business is 9000.

Test: Partnership - 1 - Question 10

A, B and C started a business with an investment ratio of 4 ∶ 7 ∶ 8. After 1-year, A increases his investment by 50% and C halved his investment. After 2 years, the total profit is Rs. 14400, what will be the share of B?

Detailed Solution for Test: Partnership - 1 - Question 10

In the 1st year,
Let, investment of A = Rs. 4x
Investment of B = Rs. 7x
Investment of C = Rs. 8x
In the 2nd year,
Investment of A = Rs. (4x + 4x × 50/100) = Rs. 6x
Investment of B = Rs. 7x
Investment of C = Rs. (8x/2) = Rs. 4x
∴ Weighted ratio of investment of A, B and C,
⇒ (4x × 12 + 6x × 12) ∶ (7x × 24) ∶ (8x × 12 + 4x × 12)
⇒ 120x ∶ 168x ∶ 144x
⇒ 5 ∶ 7 ∶ 6
Total profit = Rs. 14400
∴ Share of B = 14400 × (7/18) = Rs. 5600

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