Question

Singh, Gupta and Khan are partners in a firm sharing profits in 3:2:3 ratio. They admitted Jain as a new partner. Singh surrendered 1/3 of his share in favour of Jain: Gupta surrendered 1/4 of his share in favour of Jain and Khan surrendered 1/5 in favour of Jain. Calculate new profit sharing ratio?

Answer 1

Given : Singh, Gupta and Khan are partners in a firm sharing profits in 3:2:3 ratio. They admitted Jain as a new partner.

Singh surrendered 1/3 of his share in favour of Jain: Gupta surrendered 1/4 of his share in favour of Jain and Khan surrendered 1/5 in favour of Jain.

Solution :  

Old ratio of old partners : Singh , Gupta and Khan = 3 : 2 : 3

Singh surrenders = ⅓ of ⅜ = 3/24

Singh's New Share = ⅜ - 3/24 = (9 - 3)/24 = 6/24

 

Gupta surrenders = ¼  of 2/8  = 2/32

Gupta's New Share = 2/8 - 2/32 = (8 - 2)/32 = 6/32

Khan surrenders = ⅕  of 3/8  = 3/40

Khan's New Share = 3/8 - 3/40 = (15 - 3)/40 = 12/40

 

Jain's share = 3/24 + 2/32 + 3/40 = ⅛ + 1/16 + 3/40 = (10 + 5 +6)/80 = 21/80

New profit shares = 6/24 : 6/32 : 12/40 : 21/80 = ¼ : 3/16 : 3/10 : 21/80

= 20/80 : 15/80 : 24/80 : 21/80

New profit sharing ratio = 20 : 15 : 24 : 21

Hence the New profit sharing ratio is 20 : 15 : 24 : 21.

Hope this answer will help you….

 

Here are some more questions from this chapter :  

Sandeep and Navdeep are partners in a firm sharing profits in 5:3 ratio. They admit C into the firm and the new profit sharing ratio was agreed at 4:2:1. Calculate the sacrificing ratio?

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Rao and Swami are partners in a firm sharing profits and losses in 3:2 ratio. They admit Ravi as a new partner for 1/8 share in the profits. The new profit sharing ratio between Rao and Swami is 4:3. Calculate new profit sharing ratio and sacrificing ratio?

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Answer 2

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Old Profit sharing ratio of singh,Gupta and khan = 3 : 2 : 3

$singh' s\: sacrifice \: = 1/3 \: of \: 3/8 = 1/3 \times 3/8 = 3/24$

$gupta' s \: sacrifice \: = 1 /4 \: of \: 2/8 = 1 /4 \times 2 /8 = 2 /32$

$khan' s \: sacrifice \: =1/5 \: of \: 3 /8 = 1/5 \times 3 /8 = 3/40$

$singh 's \: new \: share \: = 3/8 - 3/24 = \frac{9 - 3}{24} = \frac{6}{24}$

$gupta's \: new \: share \: =2 /8 - 3 /32 = \frac{8 - 3}{32} = \frac{6}{32}$

$khan's \: new \: share = 3/8 - 3/40 = \frac{15 - 3}{40} = \frac{12}{40}$

$jain's \: share = 3/24 + 2/32 + 3/40 = \frac{60 + 30 + 36}{480} = \frac{126}{480}$

$Hence \: new \: share \: of \: singh : Gupta : khan : jain$

$\frac{6}{24} : \frac{6}{32} : \frac{12}{40} : \frac{126}{480}$

$\frac{120:90:144:126}{480}$

$120:90:144:126 \: \: \: \: or \: \\ 20:15:24:21$

$\large\sf \bf \underline\purple{ ♡︎\:ʜᴏᴘᴇ\: ᴛʜɪs\: ʜᴇʟᴘs ᴜʜʜ \: ♡︎}$