Question

P and p are parents sharing profits and losses in the ratio of 4:3 . They admit r as partners for a 1/7th share in profits which he acquires equally form p and q calculate new profit sharing ratio of the partners

Answer 1

Answer:

NPSR 7:5:2

Explanation:

SC ratio

P and Q

$\frac{1}{7} \times \frac{1}{2 } = \frac{1}{14 }$

NPSR = OPSR - NPSR

p = 4/7 - 1/14 = 8 - 1 / 14 = 7/14

Q = 3/7 - 1/14 = 6-1/14 = 5/14

r = 1/7 × 2/2= 2/14