Partnership - Aptitude Questions and Answers

Partnership Questions and Answers

Learn and practice the chapter "Partnership" with these solved Aptitude Questions and Answers. Each question in the topic is accompanied by a clear and easy explanation, diagrams, formulae, shortcuts and tricks that help in understanding the concept.

Use of Partnership Questions

The questions and examples given in this section will be useful to all the freshers, college students and engineering students preparing for placement tests or any competitive exam like MBA, CAT, MAT, SNAP, MHCET, XAT, NMAT, GATE, Bank exams - IBPS, SBI, RBI, RRB, SSB, SSC, UPSC etc.

Practice with this online test to crack your placements and entrance tests!
1. Polly and Jolly jointly buy a tractor. Jolly's investment is one-sixth the investment of Polly. In a profit of Rs. 91000 what will be Polly's share?

a. Rs. 50000
b. Rs. 66000
c. Rs. 72000
d. Rs. 78000

Answer: d. Rs. 78000

Explanation:

Tip:
When time period is same,
Ratio of investment = Ratio of Profit


Ratio of investment of Polly to Jolly = 6:1 = Ratio of Profit
Share of Polly in profit =6x 91000 = Rs. 78000
6+1


2. Three friends Mohan, Neeraj and Prateek make an equal investment in a business. Neeraj withdraws after just 5 months while Mohan withdraws 3 months after Neeraj. Only Pratik continues for a year. Find the ratio of profits of Mohan, Neeraj and Pratik respectively, if Mohan's investment was Rs. 216,800/-?

a. 4 : 7 : 1
b. 5 : 8 : 12
c. 8 : 5 : 12
d. 12 : 5 : 8

Answer: c. 8 : 5 : 12

Explanation:

Tip:
When investment is same,
Ratio of time = Ratio of Profit


Let us denote Mohan by M, Neeraj by N and Prateek by P.
Ratio of time periods of M , N and P = 8 : 5 : 12 = Ratio of Profit


3. Ronit invests Rs. 40,000/- in a car wash center and starts a business. After 4 months, Ram joins the business with an investment of Rs.50,000. At the end of the year, they make a profit of Rs. 1,87,000/-. What will be Ram's share in this profit?

a. Rs. 38800
b. Rs. 64666.67
c. Rs. 85000
d. Rs. 97000

Answer: c. Rs. 85000

Explanation:

Tip:
Ratio of Investment x Time = Ratio of Profit
∴ (A's investment x Time) : (B's investment x Time) = Profit of A : Profit of B


∴ (Ronit's Investment x Time) : (Ram's Investment x Time) = Ronit's Profit : Ram's Profit
∴ 40000 x 12 : 50000 x 8 = Ronit's Profit : Ram's Profit
∴ Ronit's Profit : Ram's Profit = 4,80,000 : 4,00,000 = 6:5
∴ Ram's Profit =5x 187000 = Rs. 85000
11


4. A starts a flower shop with an investment Rs. 8000. After 3 months B joins him with an investment of Rs. 16000. C joins them later with an investment of Rs. 40,000/-. The business prospers and makes a profit of Rs. 1,12,000/- at the end of the year. If profits of A, B and C are in ratio of 6 : 9 : 5, for how many months was C a part of the business?

a. 2 months
b. 3 months
c. 5 months
d. 6 months

Answer: a. 2 months

Explanation:

Tip:
Ratio of Investment x Time = Ratio of Profit

∴ (A's investment x Time) : (B's investment x Time) = Profit of A : Profit of B


∴ Rs. 8000 x 12 months : Rs. 16000 x 9 months : Rs. 40000 x ? months = 6 : 9 : 5
∴ 96000 : 144000 : 40000 x ? = 6 : 9 : 5
By direct observation we can say, if common factor is K, then
6K = 96000;        ∴ K = 16000;       and 5K = 40000 x ?
∴ ? =5K=80000= 2 months
4000040000


5. Three friends A, B and C invest in a business in the ratio 6 : 4: 10 respectively. They share the profit in the ratio 8 : 7 : 9 respectively. Find the ratio of time periods of their investment.

a. 3 : 2 : 5
b. 24 : 14 : 45
c. 80 : 75 : 54
d. 85 : 105 : 74

Answer: d. 80 : 105 : 54

Explanation:

Tip:
We know that Ratio of Investment x Time = Ratio of Profit
∴ To find ratio of time just divide respective profits ratios by respective investment ratios
So if profit ratio is P1:P2:P3 and investment ratio is I1:I2:I3 then,
Time ratio is found by = (P1/I1) : (P2/I2) : (P3/I3)


6 : 4 : 10 can be reduced to 3 : 2 : 5. So, their investments are actually in the ratio 3 : 2 : 5.
Ratio of Time periods for A, B and C is found by =8:7:9
325
Making denominators common by multiplying by 30
∴ Ratio of Time periods for A, B and C =30 x 8:30 x 7:30 x 9= 80 : 105 : 54
325