Chaya and Maya are partners in a firm sharing profits and losses in the ratio of 3:2. They admit Shreya as a new partner. Chaya agrees to surrender 1/4th of her share and Maya agrees to surrender 1/3rd of her share in favour of Shreya. Calculate new profit sharing ratio of Chaya, Maya and Shreya.
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Given data:
- Chaya and Maya are partners in a firm, sharing profits and losses in the ratio 3:2.
- Shreya is admitted into the firm.
- Chaya surrenders 1/4th of her share and Maya surrenders 1/3rd of her share for Shreya.
To find: The new profit-sharing ratio.
Answer:
- Chaya's old share = 3/5
- Maya's old share = 2/5
- Shreya's share = Sacrifice from Chaya + Sacrifice from Maya
From Chaya, Shreya gets:
- 1/4 × 3/5 = 3/20
From Maya, Shreya gets:
- 1/3 × 2/5 = 2/15
Calculation of the new profit-sharing ratio:
New ratio = Old ratio - Ratio surrendered
For Chaya:
- New ratio = 3/5 - 3/20 = (12 - 3)/20 = 9/20 or 135/300
For Maya:
- New ratio = 2/5 - 2/15 = (6 - 2)/15 = 4/15 or 80/300
For Shreya:
- New ratio = 3/20 + 2/15 = (45 + 40)/300 = 85/300
Therefore, the new profit-sharing ratio is 135:80:85 or 27:16:17.
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