Question

Ankit and Basant are partners in a firm sharing profit and losses in the ratio 3 : 2. Govind is admitted in the firm for 1/5th share in profit. Govind get it from Ankit and basant in the ratio 2 : 3. calculate the new profit and loss sharing ratio of the partners.

Answer 1

Given data:

• Ankit and Basant are partners in a firm sharing profits and losses in the ratio 3:2.
• Govind is admitted for  1/5th of the shares.
• Govind gets his share from Ankit and Basant in the ratio 2:3.

To find: The new profit and loss sharing ratio.

Answer:

• Ankit's share = 3/5
• Basant's share = 2/5
• Govind's share = 1/5

Govind gets 1/5 in the ratio 2:3 from Ankit and Basant.

From Ankit, Govind gets:

• 1/5 × 2/5 = 2/25

From Basant, Govind gets:

• 1/5 × 3/5 = 3/25

Profit/loss ratio distribution:

The share Govind gets from both partners will be deducted from their original ratios.

For Ankit:

• 3/5 - 2/25 = (15 - 2)/25 = 13/25

For Basant:

• 2/5 - 3/25 = (10 - 3)/25 = 7/25

For Govind:

• 1/5, or 5/25

Therefore, the new profit and loss sharing ratio is 13:7:5.