A and B are partners sharing profit or loss in the ratio of 3 : 2. C is admitted into partnership as a new partner. A sacrifices 1/3 of his share of B sacrifices 1/4 of his share in favour of C. What will be the C’s share in the firm?
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Answer:
4 : 3 : 3
Step-by-step explanation:
Old ratio (A and B) = 3 : 2
Let A share be 3x and B share be 2x
C is admitted as a new partner.
A's sacrifice in favour of C = (1/3) * 3x = x
B's sacrifice in favour of C = (1/4) * 2x = x/2
New ratio = Old ratio - Sacrificing ratio
A's new ratio = 3x - x = 2x
B's new share = 2x - x/2 = 3x/2
C's share = A's sacrifice + B's sacrifice
= x + x/2
= 3x/2
Therefore, new profit sharing ratio of A, B and C is 2x :3x/2 : 3x/2 or 4 : 3 : 3
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