partnership is an asociation of two or more persons who invest their money in order to carry on a certain business. a partner who manages the business is called working partner and the partner who simply invests is called the sleeping partner.
if the period of investment is same for each parner, then the profit or loss is divided in the ratio of their investments.
the simple formula involved is (if there are two partners A and B)
investment of A x period of investment of A = profit /loss of A
investment of B x period of investment of B profit /loss of B
OR,
monthly equivalent investment of A= profit /loss of A
monthly equivalent investment of B profit /loss of B
where,
investment of A x period of investment of A= monthly equivalent investment of A
and the same holds true for B.
if there are more than two parners then respective ratios can be derived using concepts discussed in the chapter on Ratio & Proportion.
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let us do some of the questions.
Q1. three partners A, B and C invest Rs 1600, Rs 1800 and Rs 2300 respectively in a business. how should they divide a profit of Rs 399?
solution: here profit is to divided in the ratio 16:18:23
A's share of profit=16/(16+18+23)x 399= Rs 112.
B's share of profit=18/(16+18+23)x 399= Rs 126
C's share of profit=23/(16+18+23)x 399= Rs 161
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Q2.A. B and C enter into a partnership. A advances Rs 1200 for 4 months. B gives Rs 1400 for 8 months and C Rs 1000 for 10 months. they gain Rs 585 altogether. find the share of profit each?
solution: monthly equivalent of A = 1200 x 4= 4800
monthly equivalent of B = 1400 x 8= 11200
monthly equivalent of C = 1000 x 10= 10000
so, profit is to be divided in the ratio 48:112:100 i.e. 12:28:25
A's share of profit is (12/65)x 585=Rs108
B's share of profit is (28/65)x 585=Rs252
C's share of profit is (25/65)x 585=Rs225
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