X and Y are partners in a firm sharing profits and losses in the ratio of 3:2. the admit Z into partnership with 1/8 share in the profit. it is decided that X and Y will share profit and losses in future in the ratio of 4:3. calculate the new profit sharing ratio.
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X and Y are partners in a firm sharing profits and losses in the ratio of 3:2. the admit Z into partnership with 1/8 share in the profit. it is decided that X and Y will share profit and losses in future in the ratio of 4:3. calculate the new profit sharing ratio.
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