BANK & INSURANCE (PARTNERSHIP) PART 1

Total Questions: 75

31. Nirmal started a business by investing Rs.18000. Arun joined him four months before the ending of the year with an investment of Rs.27000. If the total annual profit from the business was Rs.12000, find Arun's share of the annual profit.

Correct Answer: (c) Rs.4000
Solution:

Ratio of the investments of Nirmal : Arun = 2 : 3

Ratio of the time period of their investments = 3 : 1

Total annual profit = Rs.12000

Ratio of the profit share of Nirmal and Arun = (2 × 3) : (3 × 1) = 2 : 1

Hence, Arun's share of the annual profit
= (1/3) × 12000 = Rs.4000

32. Y started a business by investing Rs.450. Z joined the business after three months with a capital of Rs.760. What will be the respective ratio of their shares of profit received at the end of the year?

Correct Answer: (c) 15:19
Solution:

Ratio of their shares of profit = ratio of their investments

Ratio of the investments by Y and Z = (450 × 12) : (760 × 9)

= 15 : 19

33. A and B started a business with Rs.13200 and Rs.16800 respectively. Profit earned by A is Rs.880 which is Rs.220 less than the profit earned by B. What is the ratio of period of investment of A and B respectively?

Correct Answer: (c) 56:55
Solution:

Investment of A = 13200

Investment of B = 16800

Profit earned by A = 880

Profit earned by B = 880 + 220 = 1100

Then, profit ratio = 880 : 1100 = 4 : 5

Also, profit ratio, A : B = (13200 × period of investment of A) : (16800 × period of investment of B)

Then, 4 : 5 = (13200 × period of investment of A) : (16800 × period of investment of B)

Period of investment of A : period of investment of B = 56 : 55

34. Nehal started a business investing Rs.35000. After 6 months, Aniket joined with a capital of Rs.42000. At the end of 3 years, the total profit was Rs.38500. What is Aniket’s profit?

Correct Answer: (b) Rs.19250
Solution:

Ratio of capital invested by Nehal and Aniket

= (35000 × 36) : (42000 × 30)

= 1260000 : 1260000

= 1 : 1

∴ Aniket's profit = (1/2) × 38500 = Rs. 19250

35. Bhagirathi and Drapaku invested Rs.10000 and Rs.12000 respectively. After three months, Anandmayi joined them and invested Rs.18000. If the total profit earned after one year is Rs.21300, then what is Bhagirathi's share in profit?

Correct Answer: (a) Rs.6000
Solution:

Ratio of Profit = Ratio of investment × Time

So, Ratio of profit of Bhagirathi, Drapaku and Anandmayi

= 10000 × 12 : 12000 × 12 : 18000 × 9

Ratio of profit = 20 : 24 : 27

Share of Bhagirathi in profit = Rs. (21300 × 20) / 71

= Rs. 6000

36. Alia and Nitin started a business by investing Rs.500 and Rs.640 respectively. Nitin left the business at the end of five months. What will be the respective ratio of their shares of profit received at the end of the year?

Correct Answer: (d) 15:8
Solution:

Ratio of their shares of profit = ratio of their investments

Ratio of the investments by Alia and Nitin = (500 × 12) : (640 × 5)

= 15 : 8

37. A, B and C enter into a partnership such that A invested for 8 months, B invested for 12 months and C invested for 18 months. If the profit earned by A, B and C are in the ratio 6 : 4 : 5 respectively, then what is the respective ratio of their investments?

Correct Answer: (a) 27:12:10
Solution:

Let investment of A, B and C are Rs. a, Rs. b and Rs. c respectively.

Profit ratio, A : B : C = 6 : 4 : 5

Also, profit ratio, A : B : C = (a × 8) : (b × 12) : (c × 18)
= 4a : 6b : 9c
Then, 6 : 4 : 5 = 4a : 6b : 9c
Therefore, a : b : c = 27 : 12 : 10

38. A started a business with investment of Rs.5000 and after 4 months B joined him. At the end of 1 year from the start of the business, profit ratio of A and B was 15:16. Find the investment of B?

Correct Answer: (d) Rs.8000
Solution:

Let the investment of B be Rs. a. A : B
5000 × 12 : a × 8
7500 : a

Acc. to question,
7500/a = 15/16

7500 × 16 = 15a
a = Rs.8000

39. A and B started a business by investing amounts of Rs.6000 and Rs.8000 respectively. If both incurred loss at the end of the year and B's share in loss is Rs.2000, then what is the total loss incurred?

Correct Answer: (e) Rs.3500
Solution:

Let loss share of A = x

(Investment of A)/(Investment of B) = (Loss of A)/(Loss of B)

6000/8000 = x/2000

⇒ x = (6000 × 2000)/8000

⇒ x = 1500

Total loss = 2000 + 1500 = 3500

∴ Total loss incurred is Rs. 3500.

40. Priya, Shanu and Raj started a business by investing Rs.10,400, Rs.36,400 and Rs.31,200. At the end of the first year, Shanu's share in total profit was Rs.11,200. What was the total profit earned by them?

Correct Answer: (c) Rs.24,000
Solution:

Ratio of investments in business by Priya, Shanu and Raj
= 10400 : 36400 : 31200

⇒ 2 : 7 : 6

Let the total profit is 15 unit.

Now Shanu's profit = 7 unit = Rs. 11,200

⇒ 1 unit = Rs. 1600

Total profit = 15 units = Rs. (15 × 1600)

⇒ Rs. 24,000

∴ Total profit earned by them is Rs. 24,000