ASSIGNMENT:
Mr. A and Mr. B are renowned businessmen in Pakistan. They have more than20years of business
experience. They want to establish a new venture for cement sector on Musharakah basis.
In Musharakah contract both parties agreed on the following conditions:
1. Business will be on the basis of Musharakah
2. Partner ‘A’ will invest Rs. 1,000,000/3. Partner ‘B’ will invest Rs. 500,000/4. Partner ‘A’ will be a working partner and will get 70%profit.
5. Partner ‘B’ will be a silent partner and will get 30% profit.
6. Profit earned on first transaction is 50,000/Keeping in view the above scenario and being a student of Consumer Banking, youare required to answer
the following questions:
Requirements:
1. Calculate the profit of Partner ‘A’ and ‘B’?
2. You are required to write five rights of Partners in Musharakah.
Answer:
1. Calculate the profit of Partner ‘A’ and ‘B’?
Solve:
Profit = Rs 50,000
Portion of partner A in profit = 70%
Portion of partner B in profit =30%
Thus amount of profit A receive = Rs 50,000*0.3= Rs 15,000
2. You are required to write five rights of Partners in Musharakah
Answer:
Write five rights of partner in Musharakah
1.
2.
3.
4.
5.
Right to sell mutually owned property.
Hiring work force.
Deposit goods and money of business
Right to sell or buy raw materials
Giving shirka funds or goods as Hiba (gift) or qarz (loan)