13:21 X and Y are partners in a firm sharing profits and losses in the ratio of 9:6. A new partner Zis 16. 6. th of his share admitted. X surrenders th share of his profit in favour of Z and Y surrenders 15 in favour of Z. Calculate the new profit sharing ratio.
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X and Y are partners in a firm, sharing profits and losses in the ratio 9:6. A new partner, Z, is admitted into the firm. X surrenders 3/15th of his share and Y surrenders 6/15th of his share for Z. Calculate the new profit-sharing ratio.
Answer:
- X's old share = 9/15
- Y's old share = 6/15
Calculation of profit share surrendered in favour of Z:
From X [surrenders 3/15]:
- 9/15 × 3/15 = 27/225
From Y [surrenders 6/15]:
- 6/15 × 6/15 = 36/225
Calculation of the new profit-sharing ratio:
New ratio = Old ratio - Ratio surrendered
For X:
- 9/15 - 27/225 = (135 - 27)/225 = 108/225
For Y:
- 6/15 - 36/225 = (90 - 36)/225 = 54/225
For Z [the sum of the ratios surrendered]:
- 27/225 + 36/225 = 63/225
Therefore, the new profit-sharing ratio is 108:54:63 or 12:6:7.
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