P and Q shareing profit in the ratio of 7:3 admit are with 3/7th share in the firm which he takes 2/7th form P and 1/7th form Q. find the new profit shareing ratio
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Step-by-step explanation:
takes 2/7
th
from Ravi and 1/7
th
from Mukesh.
ANSWER
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
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