A and B are partners sharing profits in the ratio of 5: 4. They admit C for 1/3rd share, which he acquires in equal proportion from both. The new profit sharing ratio will be ?
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C's share of profit in the firm is 110 which he acquires from A and B in equal proportions.
It means A has surrendered 12of110=120
B has surrendered 12of110=120
New Share = Old Share-Share surrendered
A's New Share =59−120=100−9180=91180
B's New Share =49−120=80−9180=71180
C's Share =110or18180
Thus, New Porfit-sharing Ratio of A, B and C =91180:71180:18180=91:71:18
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