Partnership Aptitude Questions
When two or more than two persons run a business jointly, then they are called partners and the deal is known as partnership. Questions based on this concept are part of exam and almost every competitive exam consists of these kind of questions.
Ratio of Divisions of Gain: When an investment of all the partners are for the same time, then the gain or loss is distributed among the partners in the ration of their investments
- Suppose 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
When an investments are for different time periods, then equivalent capitals are calculated for a unit of time by taking (capital * number of units of time). now gain or loss is divided in the ratio of those capitals.
- Suppose 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
A partner that who manages the business is known as the working partner of that business. Similarly a partner one who simply invests the amount of investment for the business is called as the sleeping partner of that business.
The shares for these two people are shared by following certain rules of the business. For example, working partner gain less profit than the profit gain by sleeping partner and vice versa
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