A and B are in partnership sharing profits and losses in the ratio 3:2. They admitted C into partnership with 1/4 share which he acquires equally from A and B. calculate new profit sharing ratio.
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C will receive from A, 1/4 *1/2= 1/8
After giving 1/8 to C, A's Share = 3/5-1/8= 24-5/40 = 19/50
B will also sacrifice the same value = 1/8
B's share = 2/5-1/8= 16-5/40= 11/40
New Ratio= 19/40:11/40:1/4
= 19:11:10
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