Question

Kabir and Farid are partners in a firm sharing profits and losses in the ratio of 7 : 3. Kabir surrenders 2/10th from his share and Farid surrenders 1/10th from his share in favour of Jyoti; the new partner. Calculate new profit-sharing ratio and sacrificing ratio.

Answer 1

New-Profit sharing ratio is calculated below.

Explanation:

Old ratio between the partners Kabir and Farid is given as 7:3.

Sacrifice by Kabir in favour of Jyoti $=\frac{2}{10}$

Sacrifice by Farid in favour of Jyoti $= \frac{1}{10}$

Profit share Jyoti would get after her admission = 2/10 + 1/10 (From Kabir and Farid respectively) = 3/10

Jyoti's share

$=\frac{2}{10}+\frac{1}{10}=\frac{3}{10}$

Calculating new share:-  

New Share = Old share - sacrificed share.

Kabir’s share

$=\frac{7}{10}-\frac{2}{10}=\frac{5}{10}$

Farid’s share

$=\frac{3}{10}-\frac{1}{10}=\frac{2}{10}$

Z’ share = 3/10

Thus, new profit-sharing ratio for the three partners (Kabir, Farid and Jyoti) becomes = 5:2:3

Sacrificing Ratio

Kabir and Farid are sacrificing 2/10 and 1/10 of their share respectively, therefore the sacrificing ratio becomes 2: 1