A & B are partners sharing profit and loss in the ratio of 3:2. They admitted D as a partner for 1/7th share in future profit. find the new profit sharing ratio of the partners.
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Old Ratio A B
3/5 2/5
Let the Total share be = 1
D's Share= 1/7
Remaining Share= 1-1/7=6/7
A's New share= 6/7×3/5=18/35
B's New share = 6/7×2/5=12/35
D's share = 1/7×5/5=5/35 ( to make the denominator same we have to multiply his share with 5)
so, New profit sharing ratio of A,B and D = 18/35:12/35:5/35
=18:12:5
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