Partnership questions with solutions pdf free download by Wisdom helps Partnership shortcuts and Tricks

Partnership

A partnership is an agreement between two or more persons to invest money, time, or effort into a business with the objective of earning profit. The profit (or loss) is shared among partners in proportion to their investments or as per the agreement.

Key Points to Remember

1. Capital Investment: The amount of money each partner contributes.

2. Time: The duration for which the money remains investment

Important Formulas

$$\boxed{\text{INVESTMENT} \times \text{TIME} = \text{PROFIT}}$$

Ratio of Share: Profit is shared in the ratio of (Capital × Time), unless stated otherwise.

If the time is the same, the ratio of profit =  The Capital ratio.
If the capital is the same, the ratio of capital  = The Time ratio.

Types of Partnership :

Active Partner:   The Person Who manages the whole Business  and invests 
Passive Partner : The Person Who Invests in A business and does not manage

1.Simple Partnership:

All partners invest for the same period.

Profit is divided directly in the ratio of capital invested

👉 Formula: Investment Ratio = Profit Ratio 

2.Compound Partnership:

Partners invest different amounts for different time periods.

Profit = Invest ✖ Time Period 

Read the following examples you will understand the concept of Partnership  

Practice Problems Type wise click here 👉Partnership Problems type wise

Partnership Aptitude Questions

Type 1: Simple Partnership (Capital Based)

Q1. A and B invest ₹40,000 and ₹60,000. At the end of the year, the profit is ₹50,000. Find A’s share.

Q2. A and B invest in the ratio 5:7. If profit = ₹36,000, what is B’s share?

Type 2: Partnership with Time

Q3. A invests ₹60,000 for 12 months, B invests ₹40,000 for 9 months. Profit = ₹45,000. Find A’s share.

Q4. A invests ₹80,000 for 8 months, B invests ₹60,000 for 12 months. Profit = ₹42,000. Find B’s share.

Type 3: Introduction/Retirement of Partner

Q5. A invests ₹50,000, B invests ₹70,000. After 6 months, C joins with ₹60,000. Profit = ₹78,000. Find C’s share.

Q6. A invests ₹90,000. After 4 months, B joins with ₹60,000. After another 4 months, C joins with ₹1,20,000. Profit = ₹1,26,000. Find A’s share.

Type 4: Working & Sleeping Partner

Q7. A and B invest equally. A works and gets 10% of profit for managing. Total profit = ₹60,000. Find A’s total share.

Q8. A and B invest ₹50,000 each. B is sleeping partner. A gets 20% extra profit for managing. Profit = ₹48,000. Find A’s share.

Type 5: Partner with Salary / Commission

Q9. A and B invest equally. A is paid ₹6,000 salary annually. Total profit = ₹66,000. Find B’s share.

Q10. A and B share profits equally. B gets 10% commission on profit. If profit = ₹1,10,000, find B’s total share.

Type 6: Unequal Period Withdrawal of Capital

Q11. A invests ₹60,000 for 12 months. B invests ₹80,000 but withdraws half after 6 months. Profit = ₹56,000. Find A’s share.

Q12. A invests ₹1,20,000 for 8 months. B invests ₹90,000 for 12 months, then withdraws ₹30,000. Profit = ₹84,000. Find B’s share.