Question

A and B are partners in a firm sharing profits in the ratio of 3:2. They admitted C as a new partner for 1/5 share. The new profit sharing ratio between A and B will be 2:1. Calculate new profit sharing ratio
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Answer 1

Answer:

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Old ratio (A and B) = 3 : 2

C is admitted for 1/5 th share

A's sacrifice in favour of C = (1/5) * (1/2) = (1/10)

B's sacrifice in favour of C = (1/5) * (1/2) = (1/10)

New ratio = Old ratio - Sacrificing ratio

A's new ratio = (3/5) - (1/10) = 5/10 or 1/5

B's new share = (2/5) - (1/10) = 3/10

C's share = A's sacrifice + B's sacrifice

       

        = (1/10) + (1/10) 

       

        =  2/10

Therefore, new profit sharing ratio of A, B and C

is 5 : 3 : 2.