ILLUSTRATION 5. A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. A new partner C is admitted. A surrenders 1/5th share of his profit in favour of C and B 2/5th share of his profit in favour of C. Calculate the new ratio of partners.
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21000
21000
21000 9000 12000
( 3:4)
= 3/5
= 2/5
3/5 * 1/5
=3/25
2/5 * 2/5
=4/25
=3:4
3/25 + 4/25
= 7/25
7/25 * 75000
= 21000
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