Question

X and Y were partners in a firm sharing profits in the ratio of 5:3. With
effect from 1st April, 2019 they agreed to share profits equally. Calculate the
individual partner's gain or sacrifice due to change in ratio.​

Answer 1

Explanation:

SR / (GR) = Old ratio + new ratio

X = 5/8 - 1/2 = 1/8

Y = 3/8 - 1/2 = (1/8)

y is gaining and x is sacrifice