Ravi and Mukesh are sharing profits in the ratio of 7 : 3. They admit Ashok for 3/7th share in the firm which he takes 2/7th from Ravi and 1/7th from Mukesh. Calculate new profit-sharing ratio.
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New profit sharing is calculated below.
Explanation:
Old ratio between Ravi and Mukesh is given as:
Share Ashok would take = 3/7th of profit
New Ratio = Old Ratio - Sacrifing Ratio
So, new ratio will be calculated by deducting 2/7th from Ravi’s ratio and 1/7th from Mukesh.
Sacrifice by Ravi =
Sacrifice by Mukesh =
Ravi’s share
Mukesh’s share
Thus, the new profit-sharing ratio would be =
Thus, the new profit - sharing ratio is 29 : 11 :30
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