Quant Notes | Partnership
Any partnership in business is based on two components. One is the money or capital that is invested and the other is the time for which the money is invested.
Profit is directly proportional to investment and time.
Profit ∝ investment
Profit ∝ time
Profit ∝ investment × time
It is of 2 types:-
1. Simple partnership:- If all partners invest their different capitals for the same time period or some capital for a different time period.
2. Compound partnership:- If all partners invest their different capitals for the different time periods.
Partners are also of 2 types:-
1. Working partner:- A partner who not only invests money but also takes part in business activities and gets some salary for that
2. Sleeping partner:- A partner who only invests money, and not take part in business activities
Eg 1. A and B start a business by investing 6000 Rs and 9000 Rs respectively. Find the ratio of their profit after 1 yrs?
Solution:
(Investment of A)/(Investment of B) = 6000/9000
==> 6/9
2. A start a business with 6000 rs and B joins the business 5 months later with 8000 rs. Find the share of A and B if the total profit is 16000 Rs after 1 year?
Solution:
A : B
6000 x 12 8000 x 7
72 : 56
9 : 7
∴ A’s share = 16000 × 9/16 = 9000 rs
B’s share = 16000 × 7/16 = 7000 rs
3. Four milkman rented a pasture. A grazed 24 cows for 3 months, B 10 cows for 5 months; C 35 cows for 4 months and D 21 cows for 3 months. If A’s share of rent is Rs. 720, find the total rent of the field.
Solution:
Ratio of shares of A, B, C, D = (24×3) : (10×5) : (35×4) : (21×3)
= 72 : 50 : 140 : 63.
Let total rent be Rs. x. Then, A’s share = Rs. 72x/325
72x/325=720
X=720 x 325/ 72
=3250
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Profit is directly proportional to investment and time.
Profit ∝ investment
Profit ∝ time
Profit ∝ investment × time
It is of 2 types:-
1. Simple partnership:- If all partners invest their different capitals for the same time period or some capital for a different time period.
2. Compound partnership:- If all partners invest their different capitals for the different time periods.
Partners are also of 2 types:-
1. Working partner:- A partner who not only invests money but also takes part in business activities and gets some salary for that
2. Sleeping partner:- A partner who only invests money, and not take part in business activities
Eg 1. A and B start a business by investing 6000 Rs and 9000 Rs respectively. Find the ratio of their profit after 1 yrs?
Solution:
(Investment of A)/(Investment of B) = 6000/9000
==> 6/9
2. A start a business with 6000 rs and B joins the business 5 months later with 8000 rs. Find the share of A and B if the total profit is 16000 Rs after 1 year?
Solution:
A : B
6000 x 12 8000 x 7
72 : 56
9 : 7
∴ A’s share = 16000 × 9/16 = 9000 rs
B’s share = 16000 × 7/16 = 7000 rs
3. Four milkman rented a pasture. A grazed 24 cows for 3 months, B 10 cows for 5 months; C 35 cows for 4 months and D 21 cows for 3 months. If A’s share of rent is Rs. 720, find the total rent of the field.
Solution:
Ratio of shares of A, B, C, D = (24×3) : (10×5) : (35×4) : (21×3)
= 72 : 50 : 140 : 63.
Let total rent be Rs. x. Then, A’s share = Rs. 72x/325
72x/325=720
X=720 x 325/ 72
=3250
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