Ankit and Basant are partners in a firm profits and losses in the ratio of 3:2. they admit chandan into the partnership for 1/5th share. in future, profit sharing ratio between Ankit and Basant would be 5:7.calculate new profit sharing ratio.
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Answer:
ankit : basant - 3:2
chandhan = 1/5
therefore = let total share be 1
remaining share = 4/5(1-1/5)
new ratio =
ankit = 4/5×5/12 = 20/60
basant = 4/5×7/12= 28/60
chandhan = 1/5
new ratio = 20/60:28/60:1/5 = 20:28:12 or 5:7:3
Explanation:
here we considered the profit as 1 therefore the profit after compensating new partner is to be distributed amongst old partners in their new profit sharing ratio because they have already changed so the profit should be distributed in new ratio
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