Concept And Shortcut of Partnership

Introduction:- 
When more than one person agree to invest their money to
run a business or firm then this kind of agreement is called partnership. The
persons involved in the partnership are called partners.
There are two types of partnership.
1. Simple Partnership:  In simple partnership, capitals of
partners are invested for the same period of time.
2. Compound Partnership:  In compound
partnership, capitals of partners are invested for the different period of
time.
Basic Formulas
If two partners A and B are investing their money to run
a business then (Simple Partnership)



Capital of A : Capital of B = Profit of A : Profit
of B
If two partners A and B are investing their money for
different period of time to run a business then
(Compound Partnership)





      
      Capital of A ×
Time period of A : Capital of B × Time period of B
    
      = Profit of A :
Profit of B
If n partners are investing for different period of time
then
C1T1 : C2T2 :
C3T3 : … : CnTn = P1 :
P2 : P3 : … : Pn
Where C is the capital invested, T is time period of
capital invested and P is profit earned.
Shortcut Methods
Rule 1:
If two partners are investing their money C1 and
C2 for equal period of time and their total profit is P then
their shares of profit are



    
     If these partners are investing their money for different
period of time 
     which is T1 and T2, then
their profits are





  
    
     Rule 2:
     If n partners are investing their money C1, C2,
…, Cn for equal period of time and their total profit is P then
their shares of profit are





If these partners are investing their money for different
period of time which 
is T1, T2,… , Tthen
their profits are

 
  




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