BANK & INSURANCE (PARTNERSHIP) PART 1

Total Questions: 75

41. Vimal and Amal started the business with the investment of Rs.3000 and Rs.4000 respectively. After some months, Diya entered into partnership with the investment of Rs.3000. At the end of year, Vimal's share is 40% of the total profit of the business, after how many months did Diya invest her amount?

Correct Answer: (e) 10 months
Solution:

Profit ratio of Amal, Vimal and Diya

= 4000 × 12 : 3000 × 12 : 3000 × x

= 48 : 36 : 3x

36 / (84+3x) = 40 / 100

90 = 84 + 3x

x = 2, Diya invested after (12 − 2) = 10 months

42. Virat and Anushka together started a business with the initial investment of Rs.8000 and Rs.16000 respectively and the time period of investment for Virat and Anushka in the ratio 4:3. If the profit of Virat is Rs.4000, then find the profit of Anushka?

Correct Answer: (c) Rs.6000
Solution:

Profit ratio of Virat and Anushka

= 8000 × 4x : 16000 × 3x

= 2 : 3

Profit of Anushka = 3/2 × 4000 = Rs.6000

43. A started the business with the investment of Rs.6000. After 4 months, B joined him with the investment of 25% more than the initial investment of A. At the end of year, A received Rs.2700 as profit share out of the total profit, then find the profit share of B?

Correct Answer: (a) Rs.2250
Solution:

Profit share of A and B

= 6000 × 12 : 6000 × 125/100 × 8

= 72000 : 60000

= 6 : 5

Profit share of B = 5/6 × 2700 = 2250

44. Nisha, Manisha and Oviya started the business with the investment in the ratio of 1/3:4/5:5/6 respectively. After 6 months Manisha left the business. At the end of year, the total profit of the business is Rs.14100, find the profit of Nisha?

Correct Answer: (d) Rs.3000
Solution:

Profit ratio of Nisha, Manisha and Oviya

= 1/3 × 12 : 4/5 × 6 : 5/6 × 12

= 4 : 24/5 : 10

= 20 : 24 : 50

= 10 : 12 : 25

Profit share of Nisha = 10/47 × 14100 = 3000

45. A and B started the business with the investment of Rs.4200 and Rs.4800 respectively. After 3 years, C joined the business with the investment of Rs.4000. At the end of 12 years, the total profit of the business is Rs.7200. Find the profit of B?

Correct Answer: (c) Rs.2880
Solution:

 Profit ratio of A, B and C

= 4200 × 12 : 4800 × 12 : 4000 × 9

= 42 × 4 : 48 × 4 : 40 × 3

= 7 : 8 : 5

Profit share of B = 8/20 × 7200 = 2880

46. Ashok, Ganesh and Logu started a business by investing Rs.34000, Rs.26000 and Rs.38000 respectively. Ashok is a working partner and Ganesh and Logu is sleeping partner in a business. For managing the business, Ashok receives 10 % of profit. Find the difference between the share of Ashok and Logu, if the total profit at the end of the year is Rs.73500?

Correct Answer: (a) Rs.4650
Solution:

For managing the business, Ashok receives,

⇒ 73500 × (10/100) = Rs. 7350

Remaining = 73500 − 7350 = 66150

The ratio of investment of Ashok, Ganesh and Logu

⇒ 34000 : 26000 : 38000

⇒ 17 : 13 : 19

49's = 66150

1's = 1350

The share of Ashok = (17 × 1350) + 7350 = 30300

The share of Logu = (19 × 1350) = 25650

Required difference = 30300 − 25650 = Rs. 4650

47. P, Q and R started a business by investing in the ratio of 2 : 3 : 4. After 4 months, Q invested 50 % more than the initial investment and after another 2 months, P withdraw one-third of the initial investment. Find the total profit, if the share of P after one year is Rs.35000?

Correct Answer: (c) Rs.203000
Solution:

The share of P, Q and R

⇒ [2x×6 + 2x×(2/3)×6] : [3x×4 + 3x×(150/100)×8] : [4x×12]

⇒ [12x + 8x] : [12x + 36x] : [48x]

⇒ 20 : 48 : 48

⇒ 5 : 12 : 12

5's = 35000

1's = 7000

Total profit = 29's = Rs. 203000

48. P, Q and R started a business with investments of Rs.12000, Rs.15000 and Rs.18000 respectively. After 8 months from the start of the business, Q and R invested additional amounts in the ratio of 3 : 5 respectively. If at the end of the year, the ratio of share of P and Q was 3 : 4, then what was the additional amount invested by Q after 8 months?

Correct Answer: (d) Rs.3000
Solution:

Let the ratio additional amount of Q and R be 3x and 5x.

The ratio of profit of A : B : C

= [12000 × 12] : [15000 × 8 + (15000 + 3x) × 4] : [18000 × 8 + (18000 + 5x) × 4]

= 144000 : (120000 + 60000 + 12x) : (144000 + 72000 + 20x)

Ratio of share of P and Q = 3 : 4

144000/(180000 + 12x) = (3/4)

192000 = 180000 + 12x

12000 = 12x

x = 1000

Q's additional investment after 8 months = 3x

= 3 × 1000 = Rs. 3000

49. Arvind, Ganesh and Thyagu started a business by investing Rs.24000; Rs.30000 and Rs.36000 respectively. Arvind is a working partner and Ganesh and Thyagu is sleeping partner in a business. For managing the business, Arvind receives 10 % of profit. Find the difference between the share of Arvind and Thyagu, if the total profit at the end of the year is Rs.72000?

Correct Answer: (c) Rs.1440
Solution:

For managing the business, Aravind receives,

⇒ 72000 × (10/100) = Rs. 7200

Remaining = 72000 − 7200 = 64800

The ratio of investment of Aravind, Ganesh and Thyagu

⇒ 24000 : 30000 : 36000

⇒ 4 : 5 : 6

15's = 64800

1's = 4320

The share of Aravind = (4 × 4320) + 7200 = 24480

The share of Thyagu = (6 × 4320) = 25920

Required difference = 25920 − 24480 = Rs. 1440

50. Moni, Sree and Ranji started a business by investing Rs.75000, Rs.90000 and Rs.85000 respectively. After 5 months, Moni invested 20 % more than the initial investment and Ranji withdraw the whole amount. And after 3 months, Sree invested Rs.6000 and at the same time Ranji entered into a business with Rs.50000. Find the share of Sree, if the total profit at the end of the year is Rs.131232?

Correct Answer: (c) Rs.52992
Solution:

The share of Moni, Sree and Ranji

⇒ [75000 × 5 + 75000 × (120/100) × 7] : [90000 × 8 + 96000 × 4] : [85000 × 5 + 50000 × 4]

⇒ 1005000 : 1104000 : 625000

⇒ 1005 : 1104 : 625

Total profit = Rs. 131232

2734's = 131232

1's = 48

The share of Sree = 1104 × 48 = Rs. 52992