QuizSolver
  • Bank PO
  • CBSE
  • IIT JEE
 
 

Tips and Tricks for PARTNERSHIP for Bank PO and SSC

Posted on - 18-04-2017

QA Math Partnership

Bank PO

PARTNERSHIP

Two or more people can get together to do business by pooling their resources. The money put in by each of the partners is called his “INVESTMENT” or “CAPITAL.” .

All the people who have invested money in the partnership are called PARTNERS. .

While two or more partners would have invested money, it is not necessary that all of them should be involved in the day-to-day running of the business. The partners involved in the day-to day activities of the business are called “working partners” and the others are called “sleeping partners” or “dormant partners.” .

The profits left after paying the working partners’ remuneration/commission are shared amongst all the partners. Sometimes, the partners also take interest on their invest-ments and only the remaining profits are shared by the partners. .

Sharing of profits among the partners also depends on the understanding between the partners. However, if no special scheme of sharing the profits is specified (in a problem), then the profits are shared based on the investments of the partners. There are three different possibilities that exist here. .

If the partners invest DIFFERENT amounts each for the SAME period of time, then the profits at the end of the year are shared in the ratio of their investments. .

If the partners invest the SAME amounts for DIFFERENT periods of time, then the profits at the end of the year are shared in the ratio of the time periods for which their respective investments have been in business. .

If the partners invest DIFFERENT amounts and the time periods for which their investments are in the business are also DIFFERENT, then the profits at the end of the year are shared in the ratio of the product (investment x time period) for each partner. .

There CAN be problems that are modelled along the sharing of profits in partnerships. An example of this type is where a particular facility (like renting a tractor for ploughing their fields by three different people) is used by more than one party and the rent has to be shared by all the concerned parties - similar to sharing of profits in a partnership. .

Example 1

Ashok started a business with an investment of Rs.10,000. After a few months, Alok joined him with an investment of Rs.12,000. At the end of one year from the start, they shared the total profit equally. After how long did Ashok join? .

Solution     

Ratio of profits of Ashok and Alok = (Ratio of investments of Ashok and Alok) (Ratio of time periods of Ashok and Alok). .

Let us say Alok joined after x months. .

(10000) (12) : 12000 (12 - x) = 1 : 1


&⇒
x = 2

Example 2    

Praveen and Naveen started a business with investments of Rs.20000 and Rs.24000 respectively. At the end of one year, the total profit they shared was Rs.1000 more than the difference in their profit shares. Find the total profit. .

Solution     

Ratio of profits of Praveen and Naveen

= Ratio of their respective investments = 5 : 6. .

Let the profit shares of Praveen and Naveen be 5x and 6x respectively. .

6x + 5x = 6x - 5x + 1000

x = 100

Total profit = 11x = Rs.1100.

 
Practice Questions 3 on EQUATIONS for Bank PO And SSC
Practice Questions 2 on EQUATIONS for Bank PO And SSC
Basics of VARIATION for Banking and SSC
Basics of RATIO for Banking and SSC
Some important Question on PERCENTAGE for upcoming Bank Exams
Practice Questions on Equations for upcoming Bank PO and SSC
Basics of Equations in One Two and Three Variables for Bank PO and SSC
How To Solve Blood Relation Questions Easily for Bank PO and SSC Exams
How To Solve Profit and Loss Questions for Bank PO and SSC Exams
How to Solve Time and Work Questions for the Upcoming Bank PO and SSC Exams
Basic Theory for BLOOD RELATIONS for Bank PO and SSC Exams
Miscellaneous Series
Squares and Cubes Series
Number Analogies for Bank PO and SSC
Type of Series - Product Series
Type of Series - Difference Series
About Number and Letter Series for Banking and SSC Exams
Letter Series Type 2 for Banking and SSC
Basics of PROPORTION for Bank PO
Basics of PERCENTAGE for Bank PO and SSC

Comments