Question

X, Y and Z are partners sharing profits in the ratio of 1/2, 3/10 and 1/5. Calculate the gaining ratio of remaining partners when Y retires from the firm.

Answer 1

Answer:

5 : 2

Explanation:

Before we go for the question, we know that :

*1/2 + 3/10 + 1/5 = 1

So their ratio is :

→ (5 / 10) : (3 / 10) : (2 / 10) = 5 : 3 : 2.

But Y retires from the firm.

We know that :

→ (Profit Of X) : (Profit Of Z) = 5 : 2.

So the answer is 5 : 2.

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Answer 2

The gaining ratio of remaining partners is 5 : 2

Explanation:

Given,

X, Y and Z are partners sharing profits in the ratio of 1/2, 3/10 and 1/5

Thus, the Old Ratio of X, Y and Z

$=\frac{1}{2}: \frac{3}{10}: \frac{1}{5}$

Old Ratio of X, Y and Z

$=\frac{5}{10}: \frac{3}{10}: \frac{2}{10}$

After Y's retirement, new profit which is shared in the Ratio as ( X and Z ) = 5: 2

Calculation of Gaining Share:

The formula for calculating gaining share is given as

Ganing share = New Share - Old share

$X's=\frac{5}{7}-\frac{5}{10}=\frac{50-35}{70}=\frac{15}{70}$

(Gain)

$Z's =\frac{2}{7}-\frac{2}{10}=\frac{20-14}{70}=\frac{6}{70}$

(Gain)

Gaining Ratio $=\frac{15: 6}{70}$ or 5 : 2

Thus, the gaining ratio of the remaining partners will be 5 : 2