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PATNERSHIP

The document defines partnership as an association of two or more persons who invest money to run a business together and share profits and losses proportional to their investments. There are two types of partners: active partners who manage the business, and sleeping partners who only provide capital. There are two types of partnerships: simple partnerships where profits are shared based only on investment amounts, and compound partnerships where profits depend on both investment amounts and time periods.

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150 views

PATNERSHIP

The document defines partnership as an association of two or more persons who invest money to run a business together and share profits and losses proportional to their investments. There are two types of partners: active partners who manage the business, and sleeping partners who only provide capital. There are two types of partnerships: simple partnerships where profits are shared based only on investment amounts, and compound partnerships where profits depend on both investment amounts and time periods.

Uploaded by

nehugan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Partnership

When two or more persons make an association and invest money for
running a certain business and after certain time receive profit in the ratio
of their invested money and time period of investment, then such an
association is called partnership and the persons involved in the
partnership are called partners.
Types of Partners
There are two types of partners
1. Active partner - A partner who manages the business is known as an
active partner. He is also known as working partner.

2. Sleeping partner - A partner who provides capital but does not


involve directly in the business is known as a sleeping partner.
Type of Partnerships
There are two types of partnership
1. Simple Partnership - If all partners invest their different capitals
(money) for the same time period or same capital for different time
periods, then their profit or loss is in the ratio of their investments or time
period of investment. Such a partnership is called simple partnership.
P1 : P2 = I1 : I2
2. Compound Partnership - If all partners invest their different capitals
(money) for different, periods, then their profit not only depends on their
investments but also on the time period of their investment. Such a
partnership is called compound partnership.
P1:P2 = I1t1:I2t2
Q.1) Ravi and Sunil enter into a partnership investing Rs. 50000 and Rs.
40000, respectively. They agree to share profits in the ratio of their
capitals. Find the share of Ravi in a profit of Rs. 22500 after one year.
(a) Rs. 12500 (b) Rs. 9500
(c) Rs. 10500 (d) None of these
Q.2) Amit, Nitin and Ravindra entered into a partnership. Amit invested
Rs. 16000 for 9 months. Nitin invested Rs. 12000 for 6 months and
Ravindra invested Rs. 8000 for 12 months. At the end of a year there was
a profit of Rs. 26000. Find the share of Nitin in the profit.
(a) Rs. 8000 (b) Rs. 7500
(c) Rs. 6000 (d) None of these
Q.3) Sakshi starts business with Rs. 3500 and 5 months after Divya joins
Sakshi as her partner. After a year the profits are divided in the ratio of
2:3. How much did Divya contribute?
(a) Rs. 7000 (b) Rs. 11000
(c) Rs. 9000 (d) None of these
Q.4) Arvind began a business with Rs. 550 and was joined afterwards by
Naveen with Rs. 330. When did Naveen join if the profits at the end of
the year were divided in the ratio 10:3?
(a) After 4 months (b) After 6 months
(c) After 4.5 months (d) none of these
Q.5) A, B and C invested capitals in the ratio 3:5:9; the timing of their
investments being in the ratio 2:3:1. In what ratio would the profits be
distributed?
(a) 2:5:3 (b) 3:2:5
(c) 7:5:3 (d) None of these
Q.6) A, B and C start a business. If the ratio of their periods of
investments are 2:3:6 and their profits are in the ratio of 4:5:6, then the
ratio of capitals of A, B and C is
(a) 6:8:10 (b) 12:10:6
(c) 10:12:6 (d) None of these
Q.7 A, B, C and D enter into partnership. A subscribes 1/3 of the capital,
B subscribe 1/4, C subscribe 1/5 and the D the rest. What is the share of
D out of a profit of Rs. 6000?
(a) Rs. 2000 (b) Rs. 1600
(c) Rs. 1200 (d) Rs. 1300
Q.8) A and B started a business with initial investments in the ratio 5:7.
If after one year their profits were in the ratio 1:2 and the period for A’s
investment was 7 months, B invested the money for
(a) 6 months (b) 2.5 months
(c) 10 months (d) 4 months
Q.9) 3 Friends ‘A’, ‘B’ and ‘C’ started a business by investing a sum of
money in the ratio of 5:7:6. After 6 months ‘C’ withdraws half of his
capital. Sum invested by A is 40000. Out of total amount, total profit is
33,000. Find the share of ‘C’.
(a) 9000 (b) 9250
(c) 9155 (d) 9780
Q.10) A and B enter into a partnership for a year. A’s contribution is
rupees 1500 and B contribution is rupees 2000. After 4 months C
contributes 2250. It B withdraws his sum after 9 month. Find the ratio of
there profit –
(a) 2:3 (b) 3:2
(c) 1:1 (d) 5:3
Q.11) A, B and C shares in partnership and their share ratio is
(1/2:1/3:1/4). After 2 months, A withdraws half of his capital. After 10
month a profit of Rs. 318 is divided among them. What is B’s share?
(a) 120 (b) 240
(c) 360 (d) 480
Q.12) A and B are partners. A contributes 1/4 of his capital for 15
months and B received 2/3rd of profit. For how long ‘B’ money was
invested in the business?
(a) 6 months (b) 8 months
(c) 10 months (d) 7 months
Q.13) A and B invest a business in ratio (3:2). It 5% of the total profit
goes to charity and ‘A’ share is 855. Then total profit is?
(a) 1200 (b) 1000
(c) 1500 (d) 1600
Q14) In a Business B is a sleeping partner while A is a working partner.
A puts in rupees 5000 & B puts in 6000 respectively. A received 12.5%
of Profit for managing the Business and rest is divided in proportion to
their capitals. A’s share of profit in the total profit of 880 rupees is:-
A) Rs 350 B) Rs 400
C) Rs 420 D) Rs 460

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