Question

X, 7 and Z were in partnership sharing profits in the ratio 4 : 3 : 1. The partners agreed to share future profits in the ratio 5 : 4 : 3. Each partner’s gain or sacrifice due to change in ratio will be

Answer 1

Explanation:

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Answer 2

Explanation:

★ Correct Question :

X, Y and Z were in partnership sharing profits in the ratio 4 : 3 : 1. The partners agreed to share future profits in the ratio 5 : 4 : 3. Each partner’s gain or sacrifice due to change in ratio will be

Solution :

★ Old Ratio :

X : Y : Z = 4 : 3 : 1

• X's Share = 4/8
• Y's Share = 3/8
• Z's Share = 1/8

The partners agreed to share future profits in the ratio 5 : 4 : 3.

★ New Profit Sharing Ratio :

X : Y : Z = 5 : 4 : 3

• X's New Share = 5/12
• Y's New Share = 4/12
• Z's New Share = 3/12

★ Sacrifice or Gain Ratio :

Sacrifice or Gain Ratio = Old Ratio - New Ratio

• X =

⇒ 4/8 - 5/12 = (12 - 10)/24

⇒ 2/24 -------- (Sacrifice)

• Y =

⇒ 3/8 - 4/12 = (9 - 8)/24

⇒ 1/24 --------- (Sacrifice)

• Z =

⇒ 1/8 - 3/12 = (3 - 6)/24

⇒ - 3/24 ------ (Gain)

Therefore,

• X Sacrifice = 2/24
• Y Sacrifice = 1/24
• Z Gain = 3/24