Question

X, Y, Z are partners sharing profit & losses equally Y retires from the firm X & Z agree to carry on the business with a profit sharing ratio of 7:5 locate the gaining ratio.​

Answer 1

Answer:

Correct option is D)=only y grains by 1/3

Old ratio (X, Y, and Z) = 1 : 1 : 1

New ratio (X and Z) = 1 : 2

Gaining ratio = New ratio - Old ratio

X's gain = (1/3) - (1/3) = Nil

Y's gain = (2/3) - (1/3) = 1/3

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Answer 2

Answer:

Y gains by 1/3

Explanation:

Old ratio (X, Y, and Z) = 1 : 1 : 1

New ratio (X and Z) = 1 : 2

Gaining ratio = New ratio - Old ratio

X's gain = (1/3) - (1/3) = Nil

Y's gain = (2/3) - (1/3) = 1/3

Therefore, only Y gains by 1/3

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