A and b are partners sharing profits in the ratio of 5:3 .c is admitted to the partnership for 1/4 th share of future profits. Calculate the new profit sharing ratio.
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let it be firm share 1
C admitting ratio 1/4
remaining ratio = 1 - 1/4 = 3/4 belongs to A and B
new ratio
A = 3/4 × 5/8 = 15/32
B = 3/4 × 3/8 = 9/32
C = 1/4 × 8/8 = 8/32
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