Question

Murli, Naveen and Omprakash are partners sharing profits in the ratio of 3/8, 1/2 and 1/8. Murli retires and surrenders 2/3rd of his share in favour of Naveen and remaining share in favour of Omprakash. Calculate new profit-sharing ratio and gaining ratio of the remaining partners.

Answer 1

Answer:

Murli, Naveen and Omprakash are partners sharing profits in the ratio of 3/8, 1/2 and 1/8. Murli retires and surrenders 2/3rd of his share in favour of Naveen and remaining share in favour of Omprakash

Answer 2

The new profit-sharing ratio and gaining ratio of the remaining partners are calculated below:

Explanation:

Given,

Murli, Naveen and Omprakash are partners who are sharing profits in the ratio of 3/8, 1/2 and 1/8.

Old Ratio =3: 4: 1

After Murli retires, he surrenders 2/3rd of his share in favour of Naveen and remaining share in favour of Omprakash.

Murli's share $=\frac{3}{8}$

Share acquired by Naveen

$=\frac{3}{8} \times \frac{2}{3}=\frac{2}{8}$

Remaining Share

$=\frac{3}{8}-\frac{2}{8}=\frac{1}{8}$

(acquired by Omprakash)

Gaining Ratio

$=\frac{2}{8}: \frac{1}{8}=2: 1$

Calculation of New Shares:

Naveen's New Share

$=\frac{4}{8}+\frac{2}{8}=\frac{6}{8}$

Omprakash's New Share

$=\frac{1}{8}+\frac{1}{8}=\frac{2}{8}$

New Profit Sharing Ratio = 3 : 1

Thus, the new profit-sharing ratio and gaining ratio of the remaining partners will be 3 : 1 and 2 : 1 respectively.