Question

X and Y are partners.Z is admitted in the firm for 1/7th the new profit sharing ratio will be

Answer 1

Answer:

let total share be 1

remaining share = 1-1/7 = 6/7

X's share = 6/7×1/2 = 6/14

Y's share = 6/7×1/2 = 6/14

Z's share = 1/7

new ratio = 6/14 : 6/14 : 1/7

6:6:2 or 3:3:1