Partnership Problems MCQs with Answers

Past Paper MCQ

At the time of the retirement of a partner, the existing partners decided to revalue Stock from Rs. 10,000 to Rs. 12,500, Building from Rs. 50,000 to Rs. 52,500, Sundry Creditors from Rs. 12,000 to Rs. 13,000, and also agreed to record an unrecorded liability of Rs. 2,000. What is the profit or loss on revaluation of assets and liabilities?

• A.Rs. 3,000 loss
• B.Rs. 2,000 loss
• C.Rs. 3,000 profit
• D.Rs. 2,000 profit

Hyder and Ahsan set up a business together with an initial investment of Rs. 90,000 and Rs. 60,000 respectively. At the end of the year, they earned a profit of Rs. 45,000. Find the share of Ahsan in the profit.

• A.Rs. 27,000
• B.Rs. 18,000
• C.Rs. 15,000
• D.Rs. 22,500

A and B do a business together. Their incomes are in the ratio $3 : 2$, and their expenses are in the ratio $5 : 3$. If each saves Rs. $1000$, what are their incomes?

• A.Rs. $4500$ and Rs. $3000$
• B.Rs. $5000$ and Rs. $3000$
• C.Rs. $6000$ and Rs. $4000$
• D.Rs. $7000$ and Rs. $5000$

Aslam, Khalid, and Salman started a business in partnership. Their share of profit is in the ratio $2:3:4$. If Khalid's share of the profit is Rs. 600, what is Aslam's share?

• A.Rs. 300
• B.Rs. 400
• C.Rs. 500
• D.Rs. 800

Asad and Aamir started a business with capitals of $63{,}000$ and $72{,}000$, respectively. After one year, they earned a profit of $45{,}000$. The profit share of Aamir would be?

• A.$21{,}000$
• B.$27{,}000$
• C.$24{,}000$
• D.$20{,}000$

A and B started a business in partnership investing Rs. 20,000 and Rs. 15,000 respectively. After six months, C joined them with Rs. 20,000. What will be B's share in the total profit of Rs. 25,000 earned at the end of 2 years from the start of the business?

• A.Rs. 7,500
• B.Rs. 8,000
• C.Rs. 10,000
• D.Rs. 6,250

Hyder and Ahsan have profit share in the ratio of $3:5$. If the total profit is $32{,}000$, the share of Ahsan would be _?

• A.$12{,}000$
• B.$20{,}000$
• C.$18{,}000$
• D.$15{,}000$

Zubair, Kashif, and Aijaz started a business in partnership. Their profit shares are in the ratio $2:3:4$. If Kashif's share of the profit is Rs. $450$, what is Zubair's share?

• A.Rs. $200$
• B.Rs. $300$
• C.Rs. $400$
• D.Rs. $600$

Noor, Ayat and Kaunain opened a milk shop in partnership. The share of profits is in the ratio $1:2:3$. If the total profit is Rs. 600, what is Noor's share?

• A.Rs. 50
• B.Rs. 200
• C.Rs. 100
• D.Rs. 300