Question

X, Yand Z are partners Sharing profits and losses in the ratio of 5.3.2.Z retires from firm. Calculate new ratio and Gaining ratio.​

Answer 1

Answer:

new ratio will be 5: 3

and the gaining ratio will be 5:3

Explanation:

There are no conditions for new ratio mentions in the question so the new ratio will be deemed to 5 :3

Gaining ratio = new profit sharing ratio-old profit sharing ratio