Partnership practice test

1.

Three companies are working independently and receiving the savings 20%, 30%, 40%. If the companies work combinely, what will be their net savings?

Answer: Option B

Explanation:

suppose total income is 100
so amount x is getting is 80
y is 70
z =60
total=210

but total money is 300
300-210=90
so they are getting 90 rs less
90 is 30% of 300 so they r getting 30% discount

2.

A,B,C enter into partnership  invests 3 times as much as B invests and B invests two third of what C invests. At the end of the year ,the profit earned is Rs 6600. what is the share of B ?

Answer: Option A

Explanation:

Let C’s capital = Rs.x

B’s capital = Rs (2/3) * x

A’s capital = 3 * (2/3) * x = Rs 2x

ratio of their capitals = 2x : (2/3) * x:x

= 6x : 2x;3x

B’s share = Rs 6600(2/11) = Rs 1200.

3.

Two merchants, M and N, enter into partnership. M puts in Rs. 20,000 in the first month and at the end of four months adds Rs.5,000 to his capital. While N withdraws Rs.20, 000 at the end of 8 months. At the end of the year, M and N received equal profit. Find the amount invested by N ?

Answer: Option B

Explanation:

The equivalent capital of M for whole year.

20,000 x 4 + 25,000 x 8

80,000 + 2,00,000 = Rs.2,80,000

Let the initial capital of N be C.

The equivalent capital of N for whole year.

8 x C + (C – 20000) x 4

8C + 4C – 80,000

As the profits are equal, 12C – 80,000 = 2, 80,000

12C = 3, 60,000

C = 3, 60,000/12 = Rs.30, 000.

4.

Rs 770 has been divided among A,B and C such that A receives 2/9th of what B and C together receives. Then A’s share is

Answer: Option A

Explanation:

A+B+C = 770………(i)

A= 2/9*(B+C)………(ii)
From eq (i) and (ii)
A+ 9A/2 = 770
11A =770*2
A= 140
Thus A’s share is Rs 140.
5.

Abu invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5p.c.p.a. How much amount will Abu get on maturity of the fixed deposit?

Answer: Option C
Explanation:

Amount = Rs. [8000*(1+ 5/100)2]
Amount = Rs. (8000 * 21/20 * 21/20) = Rs. 8820.

6.

A,B and C enter into a partnership by investing in the ratio of 3:2:4. After one year ,B invests another Rs 2,70,000 and C,at the end of 2 years, also invests Rs 2,70,000.At the end of 3 years ,profit are shared in the ratio of 3:4:5.Find the initial investment of each A?

Answer: Option A

Explanation:

Share of A = 3x*3 = 9x

share of B = 2x*3 + 270*2 = 6x+540

Share of C =4x*3+270*1 = 12x+270

based on new ratio : 9x/3 = (12x+270)/53x=2.4x+54

or .6x=54 or x= 54/.6 = 90

so initial investments were : A : 270, B 180and C 360 (all in thousands).

The initial investment of each A = 2,70,000

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