Question

MOHAN AND GANPAT ARE SHARING profits AND losses in the RATIO of 2:3. They ADMITTED CHANDRAKANT for 1/4th SHARE in future profit. The new profit SHARING RATIO of MOHAN, GANPAT AND CHANDRAKANT will be AS under

Answer 1

Answer:

New profit sharing ratio =6:9:5

Answer 2

The new profit sharing ratio between Mohan, Ganpat, Chandrakant will be 6:9:3.

Given in the question that the old profit sharing ratio between Mohan and Ganpat is 2:3.

Chandrakant was admitted for 1/4th share in the profits. First, we will calculate the remaining share in the firm's profit after Chandrakant's admission.

let the total share of the firm be 1

Share left after deducting Chandrakant's share = 1 - Chandrakant's share

                                                                     = 1 - 1/4 = 3/4

so, Mohan's new share = 2/5 * 3/4 = 6/20 = 3/10

Ganpat's new share = 3/5 * 3/4 = 9/20

Chandrakant's new share = 1/4 * 3/4 = 3/20

New profit sharing ratio between Mohan, Ganpat, Chandrakant is:-

3/10 : 9/20 : 3/20 = ( 6:9:3 ) / 20 = 6:9:3.