Mukesh receives his share two times of Bajpai. While Vinod receives two times share of Mukesh. Profit of firm at the end of the year is ` 1,75,000. Determine the share in profit of each partner
Answers
Answer:
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Explanation:
Ravi's old ratio= 7/10
Mukesh's old ratio= 3/10
Ashok is admitted for 3/7th share in the firm
Ravi sacrifices 2/7th of the ratio
Mukesh sacrifices 1/7th of the ratio
Ravi's new ratio= 7/10-2/7
= 29/70
Mukesh's new ratio= 3/10-1/7
= 11/70
New Profit sharing ratio of the partners= 29:11:30
Explanation:
Let,
Bajpai's share = x
Mukesh's share = 2x
Vinod's share = 2 (2x) = 4x
According to the Question :
Profit of firm at the end of the year is Rs. 1,75,000.
⇒ x + 2x + 4x = 1,75,000
⇒ 7x = 1,75,000
⇒ x = 1,75,000 / 7
⇒ x = 25,000
Bajpai = Rs. 25,000
• Mukesh = 2x
= 25,000 × 2
= 50,000
Mukesh = Rs. 50,000
• Vinod = 2 (2x) = 4x
= 4x
= 25,000 × 4
= 1,00,000
Vinod = Rs. 1,00,000
___________________________
Another method :
Ratio of patners :
Vinod : Mukesh : Bajpai = 4 : 2 : 1
Vinod's share =
⇒ 1,75,000 × (4/7)
⇒ 1,00,000
Mukesh's share =
⇒ 1,75,000 × (2/7)
⇒ 50,000
Bajpai's share =
⇒ 1,75,000 × (1/7)
⇒ 25,000
Hence,
Bajpai's share = Rs. 25,000
Mukesh's share = Rs. 50,000
Vinod's share = Rs. 1,00,000