Partnership

Partnership:

 
When two or more than two persons run a business jointly with a common goal to attain profits, they are called partners and the deal is known as partnership.
 

1) When Time Period is same but amount of investment of each partner is different

 
Suppose two persons A and B invest Rs. x and Rs. y respectively for a year in a business, then at the end of the year:
 

(A's share of profit) : (B's share of profit) = x : y

 

Example:

 

2) When both time period & amount of investment of each partner are different

 
Suppose A invests Rs. x for p months and B invests Rs. y for q months then,
 

(A's share of profit) : (B's share of profit)= xp : yq

 

Example:

 

Questions Asked from this Chapter:

 

Question Type 1: Based on Simple Partnership

Example:
Rs 864 is divided among A, B and C such that 8 times A's share is equal to 12 times B's share and also equal to 6 times C's share. How much did B get?
a) Rs 399
b) Rs 192
c) Rs 288
d) Rs 72
Solution:
 

Question Type 2: Based on Compound Partnership

Example:
A, B and C started a business by investing Rs 40500, Rs 45000 and Rs 60000 respectively. After  6 months C withdrew Rs 15000 while A invested Rs 4500 more. In annual profit of Rs 56100, the share of C will exceed that of A by:
a) Rs 900
b) Rs 1100
c) Rs 3000
d) Rs 3900
Solution:
 

Question Type 3: Based on Ratio

Example:
A starts a business with Rs 3500 and after 5 months B joins A as his partner. After a year the profit was divided in 2:3. What is B's contribution in annual capital?
a) Rs 8000 
b) Rs 8500
c) Rs 9000
d) Rs 7500
Solution:
 

Question Type 4: Based on Percent

Example:
A Number is divided into two parts such a way that 80% of 1st part is 3 more than 60% of 2nd part and 80% of the second part is 6 more than 90% of the first part. Then the number is:
a) 125
b) 130
c) 135
d) 145
Solution: