Question

l and m are partners sharing profit in the ratio of 3:2 n is admitted the new partner acquieres his 1/5 share entirely form l calculate new profit sharing ratio
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Answer 1

Explanation:

Total share = 1

After admission of new partner, Total share available for I and M will be = 1-1/5 = 4/5

I and M will share that as,

3/5 x 4/5 : 2/5 x 4/5

which is, 12/25:8/25

balance 1/5th share is for the new partner,

which is = 25-(12+8)/25 = 5/25

or

1/5th of Total share = 1/5 x 25/25 = 5/25

New PSR = 12:8:5