A and b are partner sharing profit in the ratio of 5:3. C is admitted to the partnership for 1/4 share of future profit . Calculate the new profit sharing ratio.
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Answer:
15:9:8 is the new profit sharing ratio
Explanation:
Total share=1
Remaining after C=1-1/4=3/4
A's new share=3/4×5/8=15/32
B's new share=3/4×3/8=9/32
C's share=1/4×8/8=8/32
Hence,the new profit sharing ratio is 15:9:8
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