BANK & INSURANCE (PARTNERSHIP) PART 1

Total Questions: 75

11. The amount invested by Sana and Tushar in a business are Rs.y and Rs.2y respectively. The ratio of time periods for which Sana and Tushar invested is 2:3 respectively. Profit earned by Tushar is Rs.12000. Find profit earned by Sana.

Correct Answer: b) Rs.4000
Solution:

Let the Profit of Sana be a.

Profit (Sana : Tushar) = y × 2 : 2y × 3 = 1 : 3

According to question, we have

a/12000 = 1/3

a = 4000

Thus, profit earned by Sana = Rs.4000

12. A starts a business with an investment of Rs.20000 and B joins him after 2 months with an investment of Rs.24000. In what ratio they should share the profit respectively at the end of one year from the start of business?

Correct Answer: (c) 1:1
Solution:

Amount invested by A = Rs.20000

Amount invested by B = Rs.24000

Ratio of the amount invested by A to that by B

20000 : 24000 = 5 : 6

Time period of the investment of A = 12 months

Time period of the investment of B = 10 months

Ratio of the time period of the investment of A to that by B = 12 : 10 = 6 : 5

⇒ ratio of the profit earned by A to that by B = (5 × 6) : (6 × 5) = 30 : 30 = 1 : 1

13. The ratio of amount invested by Sam and Teju is 2:3. The time periods for which Sam and Teju invested is 6 months and 8 months respectively. Profit earned by Teju is Rs.400. Then find profit earned by Sam.

Correct Answer: (b) Rs.200
Solution:

Let Sam and Teju invested Rs.2k and Rs.3k respectively.

Sam : Teju

2k × 6 : 3k × 8

1 : 2

Profit earned by Sam = 400/2 × 1 = Rs.200

14. Suman, Aman and Naren entered into a partnership with investment of Rs.64000, Rs.80000 and Rs.72000 respectively. Aman left after eight months. Naren left after further 2 months. The respective ratio of shares of Suman, Aman and Naren in the profit is 12:8:9. For how many months Suman invested his money?

Correct Answer: (b) 15
Solution:

Let, Suman invested for n months.

Ratio of shares in the profit:

Suman : Aman : Naren = (64000 × n) : (80000 × 8) : (72000 × 10)

= 4n : 40 : 45

According to the question

4n/40 = 12/8

⇒ n/10 = 3/2

⇒ n = 10 × 3/2

⇒ n = 15

15. Suhana and Harman invested Rs.5000 and Rs.10000 respectively. After 6 months, Suhana and Harman doubled their investment. At the end of a year, profit of Harman is Rs.100 more than the profit of Suhana. Find the total profit

Correct Answer: (d) Rs.300
Solution:

Suhana : Harman

5000 × 6 + 10000 × 6 : 10000 × 6 + 20000 × 6

1 : 2

Total profit = 100 × 3 = Rs.300

16. P and Q started a business. P invested Rs.1000. Q invested 100% more than P. If Q invested for 2 months more than P and ratio of profit got by P and Q is 1:3. Find time period for which P invested?

Correct Answer: (e) 4
Solution:

Let P time period of P be x months.

Time period of Q be (x + 2).

P : Q

(x) × 1000 : (x + 2) × 2000

x/(2x + 4) = 1/3

3x = 2x + 4

x = 4

17. A, B and C invested Rs.1000, Rs.2000, Rs.3000 respectively in a business. After 6 months, A added Rs.1000, B added Rs.2000, and C added Rs.3000 more into the business. If profit of A at the end of 1 year of the business is Rs.100 then find total profit

Correct Answer: (a) Rs.600
Solution:

A : B : C

1000 × 6 + 2000 × 6 : 2000 × 6 + 4000 × 6 : 3000 × 6 + 6000 × 6

1 : 2 : 3

Total profit = 100 × 6 = Rs.600

18. Ratio of investment of A and B is 1:4 respectively. Ratio of investment of B and C is 2:3 respectively. C invested Rs.5000 more than A. A, B, C invested for 6 months, 6 months, 12 months respectively. Profit earned by them is Rs.1700. Find the profit of A is how much less than his investment

Correct Answer: (b) Rs.900
Solution:

Let the investment of A,B be Rs.x, Rs.4x respectively.

Investment of C = 3 × 4x/2 = 6x

6x − x = 5000

x = 1000

A : B : C

1000 × 6 : 4000 × 6 : 6000 × 12

1 : 4 : 12

Profit of A = 1700/17 × 1 = Rs.100

Required difference = 1000 − 100 = Rs.900

19. Two friends A and B had equal amount of money with them. A invested his money and his money increases by 50% every month while money of B decreases by 50% every month. After 2 months the difference between their money is Rs.2000. Then, how much money do A and B each have initially?

Correct Answer: (d) Rs.1000
Solution:

Let initial money be 100x.

Money with A after 2 months = 100x × 150/100 × 150/100 = 225x

Money with B after 2 months = 100x × 50/100 × 50/100 = 25x

225x − 25x = 200x = 2000

x = 10

Initial money = Rs.1000

20. Ajit and Jatin started a business by investing Rs.755 and Rs.850 respectively. Jatin left the business at the end of 4 months while Diya joined the business at the same time by investing Rs.500. What would be the share of profit received by Diya out of the total profit of Rs.4115 at the end of the year?

Correct Answer: (a) Rs.1000
Solution:

Ratio of the investments of Ajit, Jatin and Diya respectively = (755 × 12) : (850 × 4) : (500 × 8)

= 453 : 170 : 200

Hence, share of Diya = (200/823) × 4115 = 1000