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.
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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
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