Question

X&Y are two partners sharing profits in the ratio of 3:2 . They admitted P and Q as new partner X surrendered 1/3rd of his share in favour of P and Y surrendered 1/4th of his share in favour of Q. Calculate the new profit sharing ratio of X,Y,P and Q.

Answer 1

Answer:

sacrificing ratio

x : 3/5 × 1/3 = 3/15

y : 2/5 × 1/5 = 2/25

new ratio

x: 3/5 - 3/15 = 6/15

y : 2/5 - 2/25 = 8/25

p : 3/15

q : 2/25

or

x 30/75

y 24/75

p 15/75

q 6/75