Chapter 4. Admission of a Partner 4.77
8. L and M are sharing profits and losses in the ratio of 2 : 2. They admit N as a partner who makes
1/4th share from L and 1/8th share from M. Calculate new profit-sharing ratio of the partners
. [4 Marksi
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Explanation:
new profit sharing ratio between the partners is 2:3:3
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