Question

Lata, Abhishek and Apeksha are partners sharing profits and losses in the ratio of 3/8,
1/2 and 1/8. Lata retires and surrenders 2/3rd of her share in favour of Abhishek and the
remaining share in favour of Apeksha. Calculate new profit sharing ratio.

Answer 1

Answer:

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Answer 2

Explanation:

Given Lata, Abhishek and Apeksha are partners sharing profits and losses in the ratio of 3/8,1/2 and 1/8. Lata retires and surrenders 2/3rd of her share in favour of Abhishek and the  remaining share in favour of Apeksha. Calculate new profit sharing ratio.  

• So Lata, Abhishek and Apeksha are partners in a profit sharing ratio.
• Now looking at the ratios the three ratios are different. Also Lata retires and surrenders 2/3rd of her share in favour of Abhishek and the remaining share in favour of Apeksha.
• Now old share of Abhishek is ½ and Apeksha is 1/8
• Now shares acquired by Abhishek and Apeksha from Lata will be 2/3 of 3/8 = 2/8 and 1/3 of 3/8 = 1/8
• So new shares will be old shares + new shares acquired = ½ + 2/8  
•                                                                                                    = 4 + 2 / 8
•                                                                                                    = 6/8
•                                                                                                     = ¾
• Therefore new profit sharing ratio will be ¾ : ¼  
•                                                                    = 3 : 1

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