Arithmetic aptitude :: Partnership :: Data Sufficiency 2

• Partnership - General
• Partnership - Data Sufficiency 1
• Partnership - Data Sufficiency 2
• Partnership - Data Sufficiency 3
• Partnership - Important Formulas and Facts

Partnership:

When two or more people runs a joint business, they are called partners and the deal is known as partnership.

Ratio of Divisions of Gains

If two partners, $A$ and $B$ invest Rs. $x$ and Rs. $y$ respectively for a year in a business, then at the end of the year:
($A$'s share of profit) : ($B$'s share of profit) $=x:y$.

If $A$ invests Rs. $x$ for $p$ months and $B$ invests Rs. $y$ for $q$ months then,
($A$'s share of profit) : ($B$'s share of profit) $=xp:yq$.

Working and Sleeping Partners:

working partner is the one who runs the business and sleeping partner is the one who simply invests the money in the business.

How much did Ram get as profit at the year-end in the business done by Nissam, Ram and Karan?

I. Karan invested Rs. $8000$ for $9$ months, his profit was $\frac{3}{2}$ times that of Ram's and his investment was $4$ times that of Nissam.

II. Nissam and Ram invested for one year in the proportion $1:2$ respectively.

III. The three together got Rs. $1000$ as profit at the year end.

Answer:

Explanation:

I and II give:

K = Rs.$(8000\times 9)$ for one month = Rs. $72000$ for one month.

N = Rs. $\left(\frac{1}{4}\times 8000\times 12\right)$ for one month = Rs. 24000 for one month.

R = Rs. $48000$ for one month.

$\therefore$ $K:N:R$ $=72000:24000:48000$ $=3:1:2$.

III gives, total profit = Rs. $1000$.

$\therefore$ Ram's share = Rs. $\left(1000\times\frac{2}{6}\right)$

= Rs. $333\frac{1}{3}$.

$\therefore$ Correct answer is (D).

A, B and C together start a business with a total investment of Rs. $15,000$. At the end of the year, the total profit  is Rs. $3000$. What is A's share in the profit ?

I. A's contribution is $\frac{3}{2}$ times B's

II. B's contribution is twice that of C.

III. A's contribution is thrice that of C.

Answer:

Explanation:

Let C's contribution be Rs. $x$.

From I and II, we get: C = Rs. $x$, B = Rs. $2x$ and A = Rs. $\left(\frac{3}{2}\times 2x\right)$ = Rs. $3x$.

From II and III, we get C = Rs. $x$, B = Rs. $2x$ and A = Rs. $3x$.

From I and III, we get C = Rs. $3x$ and B = Rs. $\left(\frac{2}{3}\times 3x\right)$ = Rs. $2x$.

Thus, $A:B:C$ $=3x:2x:x$ $=3:2:1$.

A's share = Rs. $\left(3000\times\frac{3}{6}\right)$ = Rs. $1500$.

Thus, any two of three give the answer.

$\therefore$ Correct answer is (D).

What is Z's share of profit in a joint venture?.

I) Y started business investing Rs. $80,000$.

II) Z joined him after $3$ months.

III) X joined after 4 months with a capital of Rs. $1,20,000$ and got Rs. $6000$ as his share of profit.

Answer:

Explanation:

From I, II and III, we get $X:Y:Z$ $=(120000\times 8)$ $:(80000\times 12)$ $:(x\times 9)$.

Since Z's investment is not given, the above ratio cannot be given.

$\therefore$ Given data is inadequate.

$\therefore$ Correct answer is (D).

• Partnership - General
• Partnership - Data Sufficiency 1
• Partnership - Data Sufficiency 2
• Partnership - Data Sufficiency 3