You must know the Partnership syllabus in case you want to outshine in the upcoming bank exams. There are several Partnership formulas for bank exams that you have to remember. For better preparation, you can participate in Partnership online tests for bank exams and solve Partnership questions and answers because the Partnership is a very important topic for every bank and other Government exams. Once you know the Partnership tricks for bank exams, you can easily and quickly solve the problems without wasting any time.
Before appearing for any Government bank exams try to solve the Partnership quiz as many as possible. The Partnership questions and answers pdf for bank exams and Partnership notes are easily available on BYJU'S Exam Prep. The important banking exams, where Partnership is included in the syllabus, are SBI Clerk, SBI PO, IBPS Clerk, IBPS PO, RBI Grade A, B, IBPS RRB Clerk, PO, etc.
Important Partnership Topics
In simple partnership, all the investors invest the entire resources for the same period of time and remain in the business for the same duration.
For example: If M and N equally contributed Rs. x and y for one year in a certain business, their profit (or loss) at that time will be:
M's benefit:N's Profit = x:y
In compound partnership, different investors invest the money for a different period of time. Here, with the time-unit, the proportion of sharing and benefit is discovered by copying the capital contribution.
Compound Partnership Formula
(Kapoor's share of profit)/ (Gupta's share of profit) = (100000×3)/ (50000×12); where 12 is the number of months in a year. So, the ratio of the profits is (Kapoor’s share of Profit)/ (Gupta's share of Profit) = 1/2 or 1:2.
A sleeping partner has nothing to do with the management of the business. They just give away their resources like building, land, machinery, or money.
A working partner is very active and fully responsible for maintaining the business. They are responsible for marketing and production. For maintaining the management, they get incentives also. The profit that remains is divided between both as their rule of investment.
Tips to Prepare Partnership Questions
- Two, three, or more people together investing money in a certain business are called partners. They are in Partnership relations, and the money that they invest in the business is Capital.
- Just remember if they are investing money for the same time, then it is a Simple Partnership.
- And if they are investing money for a different time, then it is a Compound Partnership.
Importance of Partnership in the Quantitative Aptitude of Banking Exams
- These partnership questions are helpful to determine a student’s thinking capacity and mathematical efficiency.
- Partnership questions are important to find out student’s knowledge for time management in any banking exam.
- Weightage wise, Partnership questions in banking exams have a strong/ more weightage.
- Using Simple and Compound Partnership rules, you can easily solve Partnership problems in less time.
Most Recommended Books for Partnership
The following is a list of books that any candidate preparing for the topic can refer to:
Dr R.S. Aggarwal
Joan M. Kenney
Why prepare a Partnership from BYJU'S Exam Prep?
Partnership questions from the quantitative section are the most challenging part of all banking exams. But, you cannot skip this part if you wish to score outstanding. We at BYJU'S Exam Prep helps students to test their ability with some partnership questions, notes, and pdfs that will make them confident to prepare for any banking exams. At BYJU'S Exam Prep, students can also practice online exams and learn proper time management while solving the questions. BYJU'S Exam Prep also helps the students by preparing two strategies for Mathematics. One strategy is for the prelims section, and another strategy is for the Main section.
- How many types of Partnerships are there?
There are two types of partnerships: Simple Partnership and Compound Partnership.
- What is meant by Partnership?
A Partnership is a formal arrangement of two, three, or more individuals to invest some amount of money in a business and equally share the profit.
- Can we appear in banking exams before graduation?
No, you must be a graduate to appear for any banking exams.
- What are the passing marks in the bank exam?
For the general category, 40% and backward class and PWDB 35% are the minimum passing marks required for the bank exams.
- Is the Partnership mathematics topic very hard?
If you can remember the Simple and Compound Partnership formulas properly then with practice, you can easily solve the questions asked in mathematics from the Partnership section.