Explanation / Important formulas:

Ratio of Divisions of Gains:

• When investments of all the partners are for the same time, the gain or loss is distributed among the partners in the ratio of their investments
• Suppose A and B invest Rs. x and Rs. y respectively for a year in a business, then at the end of the year:  (A’s share of profit) : (B’s share of profit) = x : y
• When investments are for different time periods, then equivalent capitals are calculated for a unit of time by taking (capital x number of units of time). Now gain or loss is divided in the ratio of these capitals
• Suppose A invests Rs. x for p months and B invests Rs. y for q months then, (A’s share of profit) : (B’s share of profit)= xp : yq

Working and Sleeping Partners:

• A partner who manages the business is known as a working partner and the one who simply invests the money is a sleeping partner

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