Question
What is the minimum number of partners required to form
a partnership under the Partnership Act?Solution
Explanation: According to Section 4 of the Partnership Act, a partnership is an association of two or more persons who have agreed to carry on a business together for profit. Therefore, the minimum number of partners required to form a partnership is two.
- A washing machine is priced 50% over its cost price. The marked price is Rs. 18,000. If a customer gets 25% off, find the profit earned by the seller.
A shopkeeper sold an article after offering two successive discounts of 15% and 10%, respectively. The marked price of the article is Rs. 2200. If the c...
- The selling price of an item when it is sold at a profit of 20% is Rs. 50 more than its selling price when it is sold at a loss of 15%. What should be the ...
Vaibhav went to purchase a tablet, the shopkeeper told him to pay 22% tax if he asked the bill. Vaibhav manages to get the discount of 8% on the actual...
A shopkeeper buying an item for Rs 6000 and marked it up by 33.33%. He vend it after giving two consecutive discounts of 20% and Rs 200 respectively. Ha...
A merchant sells two items, 'X' and 'Y'. The cost price ratio of item 'X' to item 'Y' is '3:5'. The profit earned on selling item 'X' is 35%, while on i...
A dealer bought a commodity for Rs. 'w'. He marked it up by Rs. 1,800 over the cost and disposed of it after two successive discounts of 5% and 25%. Wha...
A shopkeeper bought 100 identical tubelights priced at Rs. 265 each. He spent a total of Rs. 2600 on transportation and packaging. He put the la...
A digital wall clock is labeled with a price that is 75% higher than its cost price, resulting in the marked price being Rs. 1,800 more than the cost pr...
The cost price of 12 articles is equal to the selling price of 9 articles while the discount (D) on 10 articles is equal to the profit (P) on 5 articles...