Question

ram and shyam are partners sharing profits in the ratio 7:3 mohan was admitted with 3/7 share in the profit which he took 2/7 from ram and 1/7 from shyam calculate new profit sharing ratio

explain the steps too​

Answer 1

Given:

• Ram and Shyam are partners in a firm, sharing profits and losses in the ratio 7:3.
• Mohan is admitted into the firm for 3/7th share in profits.
• Mohan acquires his share by taking 2/7 from Ram and 1/7 from Shyam.

To find: The new profit-sharing ratio.

Answer:

• Ram's old share = 7/10
• Shyam's old share = 3/10

• Mohan's share = 3/7

2/7 and 1/7 will be deducted from Ram's and Shyam's shares to add upto Mohan's share.

Calculation of the new profit-sharing ratio:

New share = Old share - Sacrifice to be made

For Ram:

• New share = 7/10 - 2/7 = (49 - 20)/70 = 29/70

For Shyam:

• New share = 3/10 - 1/7 = (21 - 10)/70 = 11/70

For Mohan:

• New share = 3/7, or 30/70

Therefore, the new profit-sharing ratio is 29:11:30.