BANK & INSURANCE (PARTNERSHIP) PART 1

Total Questions: 75

51. Shankar invested one-third of the investment for three-fourth of the total period and Kavi invested two fifth of the investment for one fourth of the total period and Silambu invested the remaining amount for 4 months. Total profit at the end of the year is Rs.23700. Find the share of Kavi?

Correct Answer: (a) Rs.5400
Solution:

Let the total investment be x,

The ratio of profit of Shankar, Kavi and Silambu,

⇒ [(1/3)x × (3/4)×12] : [(2/5)x × (1/4)×12] : [(4/15)x × 4]

⇒ 3x : (6/5)x : (16/15)x

⇒ (9/4) : (6/5) : (21/20)

=> 45 : 18 : 16
Total profit = Rs. 23700

79's = 23700
1's = 300

The share of Kavi = 18's = 300 × 18 = Rs. 5400

52. P, Q and R enter into a partnership by investing Rs. 5200, Rs. 7500 and Rs. 6300 respectively. After 4 months, P invested Rs. 1300 more and Q withdrew the whole amount. And after 5 months, R withdraws Rs. 1300 and at the same time Q enters into a partnership by investing Rs. 10000. Find the difference between the shares of P and R, if the total profit at the end of the year is Rs. 92025?

Correct Answer: (d) Rs. 495
Solution:

The shares of P, Q and R

=> [5200×4 + 6500×8] : [7500×4 + 10000×3] : [6300×9 + 5000×3]

=> 72800 : 60000 : 71700

=> 728 : 600 : 717

2045's = 92025
1's = 45

The difference between the shares of P and R = (728 − 717)'s

=> 11's = Rs. 495

53. Akil, Abinav and Ajay started a restaurant where their initial investments were in the ratio of 3:4:5. At the end of 6 months, Akil invested an amount such that his total capital became equal to Abinav’s initial capital investment. If the annual profit of Abinav is Rs. 2400 then what is the total profit of the restaurant?

Correct Answer: (b) Rs. 7500
Solution:

Initial investments ratio = 3 : 4 : 5

At the end of 6 months, Akil invested an amount such
that his total capital became equal to Abinav’s initial
capital investment.

Now, Ratio of investment for one year

Akil : Abinav : Ajay
= (3×6 + 4×6) : (4×12) : (5×12)

= (18+24) : 48 : 60

= 42 : 48 : 60

= 7 : 8 : 10

Abinav’s profit = 2400

8's = 2400 ⇒ 1's = 300

Total profit = 25's = 25×300 = Rs. 7500

54. Karunya and Kalpana invest Rs.12000 each, Karunya invests the amount for 4 months and Kalpana invests the amount for all the 12 months in the year. If the total profit at the end of the year is Rs. 32000, find their shares?

Correct Answer: (a) 8000, 24000
Solution:

As both Karunya and Kalpana invest the same amounts,
the ratio of their profits at the end of the year is equal to
the ratio of the time periods for which they have invested.

Thus, the required ratio of their profits = Karunya : Kalpana

= 4 : 12 = 1 : 3

Hence, share of Karunya in the total profit = 1/4 × 32000 = Rs. 8000

Similarly, share of Kalpana in the total profit = 3/4 × 32000

= (3×8000)

= Rs. 24000

55. Sethu is a working and Santhanu is sleeping partner in a car business. Sethu puts in Rs.25000 and Santhanu puts in Rs.30000. Sethu receives 12 1/2 % of the profit for managing the business and the rest is divided in proportion to their capital. What does each get out of a profit of Rs.4400?

Correct Answer: (a) 2300,2100
Solution:

Sethu’s share for managing the business
i.e 12 1/2 % = 25×4400/200

= Rs. 550

Remaining profit of Sethu and Santhanu as per their capital

= 4400 − 550 = 3850

Ratio of amounts = 25000 : 30000 = 5 : 6

Sum of ratios = 5 + 6 = 11

Sethu’s share = 3850 × 5/11 = Rs. 1750

Sethu’s total share = 1750 + 550 = Rs. 2300

Santhanu’s share = 3850×6/11 = 23100/11

= Rs. 2100

56. P, Q & R enter into a partnership to construct a school by investing in the ratio of 5:4:6. After 1 year, Q invests another Rs.240000. And after one year R also invests Rs.240000. At the end of 3 yrs profits are shared in the ratio of 5:6:7. Find the initial investment of Q?

Correct Answer: (a) Rs.320000
Solution:

Let the initial investments of P, Q & R be Rs. 5x, Rs. 4x & Rs. 6x respectively

Then,

(5x ×36) : [(4x ×12)+(4x +240000)×24] : [(6x × 24) + (6x + 240000) ×12] = 5 : 6 : 7

180x : [48x + 96x + 5760000] : 144x + 72x +2880000] = 5 : 6 : 7

180x : 144x + 5760000 : 216x + 2880000 = 5 : 6 : 7

180x / (144x + 5760000) = 5/6

1080x = 720x + 28800000

360x = 28800000

x = Rs. 80000

Hence Q’s initial investment = 4x

= Rs. (4×80000)

= Rs. 320000

57. Abhinav, Durga and Govrav jointly thought of engaging themselves in a business. It was agreed that Abhinav would invest Rs.13000 for 3 months, Durga Rs.16000 for 6 months and Govrav, Rs.30000 for 5 months. Abhinav wants to be the working member for which he was to receive 10% of the profits. The profit earned was Rs.14800. Calculate the share of Govrav in the profit(approx).

Correct Answer: (b) Rs 7010.5
Solution:

For managing,

Abinav received = 10% of Rs. 14800

= 10/100 × 14800 = Rs. 1480

Balance = (14800 − 1480) = Rs. 13320

Ratio of their investments

= (13000 × 3) : (16000 × 6) : (30000 × 5)

= 39000 : 96000 : 150000

= 39 : 96 : 150

= 13 : 32 : 50

Gowrav’s share = Rs (50/95 × 13320)

Gowrav’s share = Rs 7010.5

58. Vinay and Sheela started a business by investing Rs 2600 and Rs 2400 respectively. After 7 months, they added Rs 600 and Rs 800 respectively. 33% of the total profit earned after a year was gave as a donation. If after giving donation, the difference between the shares of Vinay and Sheela is Rs 350, find the total profit earned after a year?

Correct Answer: (b) Rs 25,000
Solution:

Vinay

Sheela

Investment

2600

2400

Period

(7)

(7)

+

+

3200

3200

(5)

(5)

Ratio of Profit => 34200 : 32800 => 171 : 164

The difference between the shares of vinay and sheela is Rs 350

=> 7’s = 350

=> 1’s = 50

(171 + 164)’s = 335 × 50 = 16750

67% of total profit = 16750

Total Profit = 16750 × 100/67 => 25000

59. Prathyeksan and Kavya started a business by investing Rs 1750 and Rs 2100 respectively. 5 months later, Kavya withdrew her entire money and Santhiya and Maya joined the business with investments of Rs 4000 and Rs 6500 respectively. If after a year difference in total shares of Santhiya and Maya together and total shares of Prathyeksan and Kavya together is Rs 6,720, find the total profit?

Correct Answer: (e) Rs 16,800
Solution:

Prathyeksan

Kavya

Sandhiya

Maya

Investment

1750

2100

4000

6500

Period

(12)

(5)

(7)

(7)

Ratio of Profit => 21000   10500   28000   45500

=> 6 : 3 : 8 : 13

The difference in total share of Sandhiya and Maya together
shares of Prathyeksan and Kavya together is Rs. 6,720

=> 21’s − 9’s = 12’s = 6720

=> Total Profit = (6720/12) × 30 = 16800

60. Moni started a business by investing Rs.50,000. She invested Rs.20,000 as additional amount in the next year and her friend Devi joined her with an amount of Rs.70,000. Moni invested another Rs. 20,000 in the 3rd year and Anu joined them with Rs. 70,000. At the end of these 3 years, they earned a profit of Rs. 3,00,000. Find Devi's share?

Correct Answer: (a) 1,00,000
Solution:

Moni

Devi

Anu

Investment

50000

70000

70000

Period

(1)

(2)

(1)

+

70000×(1)

          +

90000×(1)

Ratio of Profit => 210000 : 140000 : 70000

=> 3 : 2 : 1

Total Profit = 300000
=> 6’s = 300000
=> 1’s = 50000
Devi’s Share = 100000