Question

P,Q and R sharing profit and losses in the ratio of 8:5:3 P retires from the firm and surrebders 3/16th from his share in favour of Q and 5/16th in favour of R New profit sharing ratio between Q and R will be.

Answer 1

Q's new share = 5/16 + 3/16 = 8/16

R's new share = 3/16 + 5/16 = 8/16

new ratio of Q and R = 8/16 : 8/16 = 8:8 or 1:1/ equal