Partnerships in Business

IMPORTANT

Partnerships in Business: Overview

This topic covers concepts, such as, Partnerships in Business, Definition of Partnership, Ratio of Divisions of Gains & Partnerships in Time and Work etc.

Important Questions on Partnerships in Business

EASY
IMPORTANT

A, B and C invested ₹ 500 , ₹  630 And ₹  700. If A gets ₹  75 As profit, what will C get ?

EASY
IMPORTANT

A and B enter into partnership. A supplies whole of the capital amounting to Rs. 45,000 with the condition that the profits are to be equally divided and that B pays A interest on half of the capital at 10% per annum but receives Rs. 120 per month for carrying on the concern. Find total yearly profit, when B's income is one half of A's income.

EASY
IMPORTANT

Identify the figure that completes the pattern.

EASY
IMPORTANT

In an alloy, the ratio of copper and zinc is 5:2. If 1.250 kg of zinc is mixed in 17 kg 500 gm of alloy, then the ratio of copper and zinc will be _____.

EASY
IMPORTANT

When a partnership is not registered, a partnership firm is _____.

HARD
IMPORTANT

X,Y,Z started a partnership business by investing Rs. 5,000 each. After 6 months 'Y' withdrew from the business and 'Z' added Rs. 5,000 to his investment. At the end of the year the total profit earned is Rs. 18,000. Find the share of 'Z' in the profit.

MEDIUM
IMPORTANT

25 men and 15 women can complete a piece of work in 12 days. All of them started working together and after working for 8 days the women stop working. 25 men completed the remaining work in 6 days. How many days will it take for completing the entire job if only 15 women are put on the job?

HARD
IMPORTANT

A starts business with a capital of ₹ 1,400. Five months later B joins and further two months later C joins them. What amount of capital is put in by B and C, if at the end of the year their shares of profit are as 4:3:2 ?

EASY
IMPORTANT

1200 amounts to 1632 in 4 years at a certain rate of simple interest. If the rate of interest is increased by 1%, it would amount to how much?

EASY
IMPORTANT

A trader has three varieties of milk measuring 435 litres, 493 litres and 551 litres. What is the minimum number of containers of equal size that are required, so that the whole of milk is filled in them without mixing?

EASY
IMPORTANT

Water is flowing at the rate of 5 km/h through a pipe of diameter 14 cm into a rectangular tank which is 50m long and 44 m wide. Determine the time in which the level of water in the tank will rise by 7 cm (Take π =227)

MEDIUM
IMPORTANT

600 are divided among A, B and C so that40  more than 2th5 of A's share, 20 more than 2th7 of B's share and 10 more than 9th17 of C's share are all equal. A's share is______.

EASY
IMPORTANT

A can do a piece of work in 40 days. He starts working, but having some other engagements he drops out after 5 days . Thereafter, B completes this work in 21 days. How many days would  A and B take to complete this work working together?

EASY
IMPORTANT

On which of the following grounds, court may dissolve a firm at the suit of a partner?

EASY
IMPORTANT

A person borrows ₹ 5,000 for 2 years at 4% per annum simple interest. He immediately lends it to another person at 614 per annum simple interest for 2 years. His gain in the transaction is _____

MEDIUM
IMPORTANT

Four Milkmen rented a pasture. A grazed  15 cows for 4 months, B grazed 12 cows for 2 months, C grazed 18 cows for 6 month and D grazed 16 cows for 5 months. If A's share of rent is 1,020. What is C's share of rent?

EASY
IMPORTANT

Choose the correct statement regarding the partners in business.

I. Active partner acts as an agent as he carries daily business on behalf of all partners.

II. Active partner can retire from the firm or business without giving notice.

EASY
IMPORTANT

Choose the incorrect statement regarding partnership in business.

I. There are six types of partners in business.

II. Active partner is one of types of partners in business. It is also known as dormant partners.

EASY
IMPORTANT

Choose the correct statement regarding partnership in business.

I. Sleeping partner is not one of the types of partners in business.

II. Sleeping partner participate in daily functioning of the firm.

EASY
IMPORTANT

In the following question, two statements are given regarding partnership and answer the following question.

I. It is a business where informal agreement is made between two or more partners

II. It involves a formal agreement between two or more partners.