Business Mathematics and Statistics · Class 11 Commerce
Ch 2Partnership — Class 11 Business Mathematics and Statistics, concept-first.
A partnership is a form of business in which two or more persons agree to run a business together and to share its profits (and losses) in an agreed proportion. Each such person is called a partner, and the group as a whole is the firm.
Key concepts
Hover a concept to preview it and jump to its most relevant Q&A.
Simple Partnership (Ratio of Capitals)
When all partners' capitals stay invested for the same period, the equal time cancels and profit is divided in the ratio of the capitals.
Most relevant Q&A
- P and Q invest $25000$ rupees and $35000$ rupees respectively for one year. If the profit for the year is $18000$ rupees, find the share of…Free
- In a simple partnership, A and B receive profits of $6000$ rupees and $9000$ rupees respectively for capitals invested over the same period.…Free
- Two partners invest $4000$ rupees and $6000$ rupees for the same period, and the profit is $2500$ rupees. The first partner's share is: (a)…Preview
- A and B start a business investing capitals of $30000$ rupees and $45000$ rupees respectively for the same period. At the end of the year th…Free
- A, B and C invest $40000$ rupees, $50000$ rupees and $60000$ rupees respectively in a business for one year. The annual profit is $30000$ ru…Free
Chapter contents
The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.
What Partnership Means — the Arithmetic View
A partnership is a form of business in which two or more persons agree to run a business together and to share its profits (and losses) in an agreed proportion.
Types of Partnership and Kinds of Partners
Partnerships are described in a few standard ways. A Business Mathematics problem will usually reveal which situation applies through the numbers it gives rather than by naming it, but the vocabulary…
Simple Partnership — Sharing in the Ratio of Capitals
In a simple partnership all partners' capitals remain in the business for the same length of time. Since the time is identical for everyone, it plays no part in the division, and the profit is shared…
Compound Partnership — Capital Multiplied by Time
When partners keep their capital invested for different lengths of time, dividing profit by capital alone would be unfair — a large sum invested for two months has clearly done less earning than a sma…
When Capital Changes During the Period
Often a partner does not keep the same amount of capital in the business for the whole period — they may put in more money partway through, or withdraw part of what they invested.
Salary and Interest on Capital before Dividing the Balance
In many firms a partner does more than simply supply capital, or the partners agree to reward capital separately from effort.
Exercises
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- Q8P and Q invest $25000$ rupees and $35000$ rupees respectively for one year. If the profit for the year is $18000$ rupees, find the share of…Free
- Q9In a simple partnership, A and B receive profits of $6000$ rupees and $9000$ rupees respectively for capitals invested over the same period.…Free
- Q10A invests $10000$ rupees for $6$ months and B invests $8000$ rupees for $9$ months. If the total profit is $8800$ rupees, find each partner'…Free
- Q11A invests $12000$ rupees for the whole year. B joins the same business $3$ months later, investing $18000$ rupees for the remaining part of…Preview
- Q12Two partners invest $4000$ rupees and $6000$ rupees for the same period, and the profit is $2500$ rupees. The first partner's share is: (a)…Preview
- Q13A invests $5000$ rupees for $4$ months and B invests $4000$ rupees for $5$ months. Their profits should be divided in the ratio: (a) $1:1$ (…Preview
- Q14C and D are partners with capitals of $40000$ rupees and $60000$ rupees. Interest on capital is allowed at $5\%$ per annum, and D, the worki…Preview
More questions
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- Example 1Define a partnership and distinguish between a simple partnership and a compound partnership.Free
- Example 2A and B start a business investing capitals of $30000$ rupees and $45000$ rupees respectively for the same period. At the end of the year th…Free
- Example 3A, B and C invest $40000$ rupees, $50000$ rupees and $60000$ rupees respectively in a business for one year. The annual profit is $30000$ ru…Free
- Example 4A and B are partners whose capitals are in the ratio $5:7$. If B's share of the annual profit is $4900$ rupees, find the total profit and A'…Preview
- Example 5A invests $12000$ rupees for $8$ months and B invests $16000$ rupees for $9$ months in a business. The profit at the end is $20000$ rupees.…Preview
- Example 6A, B and C invest $4000$ rupees, $5000$ rupees and $6000$ rupees for $6$ months, $8$ months and $4$ months respectively. If the total profit…Preview
- Example 7A invests $8000$ rupees in a business. After $6$ months he withdraws $2000$ rupees. B invests $6000$ rupees for the whole year. If the annua…Preview