Question

X and Y were partners sharing profits in the ratio of 5 : 2. They admitted P and Q as new partners. X surrendered 1/5th of his share in favour of P and Y surrendered 1/10th from his share in favour of Q. new profit sharing ratio of X, Y, P and Q will be: *

1 point

13:40:10:7

40:13:10:7

5:3:2:1

5:2:3:1

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Answer 1

Answer:

hey mate

Explanation:

X's old share= 3/5

Y's old share= 2/5

P is admitted for 3/5 * 1/3= 3/15

Q is admitted for 2/5 * 1/4= 2/20

X's new share= 3/5- 3/15

                        = 6/15

Y's new share= 2/5- 2/20

                        = 6/20

P's share= 3/15

Q's share= 2/20

New Profit sharing ratio= 4:3:2:1

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