Question

1. A and B are partners sharing profit and losses equally. With effect from 1st January, 2019, they agreed to share profits and losses equally. Calculate the individual gain or sacrifice.​

Answer 1

Correct question:

A and B are partners sharing profits and losses in the ratio 2:1. With effect from 1st January, 2019, they agreed to share profits and losses equally. Calculate the individual gain or sacrifice.

Answer:

• A's old share = 2/3
• B's old share = 1/3

Since they agreed to share their profits and losses equally, the new ratio would be 1:1.

• A's new share = 1/2
• B's new share = 1/2

Calculation of Gain/Sacrifice:

Gain/Sacrifice = Old ratio - New ratio

• If the difference is positive, it indicates a sacrifice.
• If the difference is negative, it indicates a gain.

For A:

• Gain/Sacrifice = 2/3 - 1/2 = (4 - 3)/6 = 1/6 [Sacrifice]

For B:

• Gain/Sacrifice = 1/3 - 1/2 = (2 - 3)/6 = -1/6 [Gain]

Therefore, A sacrifices by 1/6 and B gains by 1/6.

Answer 2

Answer:

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