Assignment question:
P and Q are partners sharing profit and losses in the ratio 5:3 respectively. They admitted T as a partner. All the partners agreed to share the profits and losses equally. Find the sacrifice ratio.
Answer: 7:1
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Answer:
old ratio=5:3
new ratio=1:1:1
sacrifice of p =(5÷8)-(1÷3)
=(15÷24)-(8÷24)= (7÷24)
sacrifice of q =(3÷8)-(1÷3)
=(9÷24)-(8÷24)= (1÷24)
Sacrifice ratio= 7:1
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