Partnership: Get Prepared for Career Aptitude Test
Partnership-related questions are very important in any career aptitude test. But many students complain that they take much time in the exam. We know that time is the most important constraint in any online competitive exam. We cannot compromise with that factor. In such situations, the best idea is to look for trusted tips and tricks to solve these problems fast.
Before going to any competitive exam, you must learn all shortcut methods to solve the aptitude problems. The fact is that mastering quantitative aptitude can help you score high in exams. Below we have highlighted a few important details about this topic; prefer to go through the article to improve your knowledge base.
Partnership: Things to know
Partnership can be defined as a business association between two or more people that are running a certain business. While working together, they share the total profits as per some pre-agreed proportion. The business professionals that are involved in such kind of agreements or partnerships are better known as partners.
Partnership section is an important part of quantitative aptitude exam. These questions are generally based upon ratio and proportion topics. Generally, candidates may need to find profit shares of individuals that are involved in some business partnership. It is important to understand that these questions are logic-oriented questions, and they can be solved with the help of some specific formulas with ease.
Important formulas and relations in Partnership:
Partnership:
When two or more people run certain business with joint agreements; they are called as partners, and the deal between them is called partnership.
Ratio of Division of Gains:
Note that, when all partners make investments for the same fixed duration of time, the loss and gain of the business are distributed among them all as per the ratio of their individual investments. Let us consider a case when A and B have invested Rs. X and Rs. Y in some business for a one-year duration. In this case, by the end of the year profits can be calculated as:
(A’s share of profit in business) : (B’s share of profit in business) = x : y
In case if the investments are made for different durations of time, the equivalent capitals are then calculated for a certain unit of time by considering (capital x number of time units). In this condition, loss or gain is divided into the ratio of capitals.
Let A has invested Rs. X for the duration of p months and B has invested Rs. Y for q month’s duration, the share of profits can be defined as:
(A’s share on business profit) : (B’s share on business profit) = xp : yq.
The conditions keep on changing if the business has different active and sleeping partners. When the partner gives time for the business while investing his money as well; he is called an active partner. Whereas the one who gives money only and doesn’t show any other involvement is called a sleeping partner. Generally, there are two types of partnerships: simple and compound or complex.
Candidates preparing for following competitive exams can utilize Aptitude section to improve their skills.
- Bank Competitive Exam
- MPSC Competitive Exams
- SSC Competitive Exams
- L.I.C/ G. I.C Competitive Exams
- Railway Competitive Exam
- University Grants Commission (UGC)
- NET/ SET Competitive Exam
- Common Aptitude Test (CAT)
- Career Aptitude Test (IT Companies)
These questions are useful if you're looking for MCQs for Partnership, mcq question for Partnership, Partnership question bank, Partnership previous question papers, Partnership sample questions etc.
gopract.com has over 200 MCQs with past Partnership questions and answers in a Partnership quiz. You can take the Partnership MCQ online test for free.