Question

Q. 7 (B). X, Y and Z share profits in the ratio of 1/2, 3/10, 1/5. Calculate the
gaining ratio and new ratios when :
(i) X dies, (ii) Y dies or (ii) Z dies.
[Ans. Gaining Ratios — (i) 3:2; (ii) 5:2; (iii) 5 : 3.
New Ratios (i) 3:2; (ii) 5:2; (iii) 5:3.]​

Answer 1

Answer:

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Answer 2

ANSWER :

• ❖ If X, Y and Z share profits in the ratio of 1/2, 3/10, 1/5; then the Gaining Ratio and New Profit Sharing Ratio of Y and Z will be 3 : 2, when X dies; the Gaining Ratio and New Profit Sharing Ratio of X and Z will be 5 : 2, when Y dies and the Gaining Ratio and New Profit Sharing Ratio of X and Y will be 5 : 3, when Z dies.

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SOLUTION :

❒ Given :-

• X, Y and Z share profits in the ratio of $\rm{\dfrac{1}{2}}$, $\rm{\dfrac{3}{10}}$ and $\rm{\dfrac{1}{5}}$

❒ To Calculate :-

• (i) Gaining Ratio and New Profit Sharing Ratio when X dies = ?

• (ii) Gaining Ratio and New Profit Sharing Ratio when Y dies = ?

• (iii) Gaining Ratio and New Profit Sharing Ratio when Z dies = ?

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❒ Working Note :-

It is given that,

• X, Y and Z share profits in the ratio of $\rm{\dfrac{1}{2}}$, $\rm{\dfrac{3}{10}}$ and $\rm{\dfrac{1}{5}}$

So,

• Share of X = $\tt{\dfrac{1}{2}}$ = $\tt{\dfrac{5}{10}}$

• Share of Y = $\tt{\dfrac{3}{10}}$

• Share of Z = $\tt{\dfrac{1}{5}}$ = $\tt{\dfrac{2}{10}}$

It means,

• ★ Old Profit Sharing Ratio of X, Y and Z = $\sf{\dfrac{5}{10}}$ : $\sf{\dfrac{3}{10}}$ : $\sf{\dfrac{2}{10}}$

➨ Old Profit Sharing Ratio of X, Y and Z = 5 : 3 : 2.

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❒ Calculation of Gaining Ratio :-

We know that,

• ✎ In a partnership business, when a partner dies and the new profit sharing ratio of the remaining partners is not given, then the remaining partners gain in their old profit sharing ratio.

Therefore,

• (i) When X dies, the Gaining Ratio of Y and Z = 3 : 2

• (ii) When Y dies, the Gaining Ratio of X and Z = 5 : 2

• (iii) When Z dies, the Gaining Ratio of X and Y = 5 : 3

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❒ Calculation of New Profit Sharing Ratio :-

We know that,

• ✎ In partnership business, when a partner dies and nothing has been stated about the new profit sharing ratio of the remaining partners, the same will be ascertained by striking out the share of the the deceased partner.

Therefore,

• (i) When X dies, the New Profit Sharing Ratio of Y and Z = 3 : 2

• (ii) When Y dies, the New Profit Sharing Ratio of X and Z = 5 : 2

• (iii) When Z dies, the New Profit Sharing Ratio of X and Y = 5 : 3