S and P are partners sharing profits and ;losses in the ratio of 4:5 they admit J as a new partner for 1/ share which he acquires equally from s and P. The new ratio will be:
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C's share = 1/4
Remaining share = 1 - 1/4 = 3/4
A's new share = 3/4 X 3/4 = 9/16
B's new share = 1/4 X 3/4 = 3/16
New profit sharing ratio of A, B and C will be 9/16; 3/16 and 4/16 respectively.
Note: It has been assumed that the new partner acquired his share from old partners in old ratio.
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