M and N are partners sharing profits and loss in the ratio of 5:3 .O was admitted into firm as partner for 1/6 th shares in the profit. you required to calculate they sacrificing ratio of M:N in the new ratio of M,N,O
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Answer:
R's old share= 5/8
S's old share= 3/8
T's share= R's sacrifice + S's sacrifice
= [5/8 * 1/4] + [3/8 * 1/5]
= [5/32] + [3/40]
= 37/160
R's new share= 5/8- 5/32
= 15/32
S's new share= 3/8-3/40
= 12/40
New Profit sharing ratio= 75:48:37
I think it may help you
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