Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:

Ravi and Kishan are partners sharing profits and losses in the ratio of 3 : 2. They admitted Mohan as a new partner. Ravi surrendered $\frac{2}{5}$th of his share and Kishan surrendend $\frac{1}{5}$th of his share in favour of Mohan. The new profit sharing ratio will be:

Options:

2 : 1 : 2

3 : 2 : 1

9 : 8 : 8

5 : 3 : 2

Correct Answer:

9 : 8 : 8

Explanation:

The correct answer is Option (3) - 9 : 8 : 8.

Old ratio = 3:2 (Ravi and Kishan)
Mohan admitted as a new partner.

Ravi sacrifice = 3/5 x 2/5
                    = 6/25

Kishan sacrifice = 2/5 x 1/5
                       = 2/25

Mohan share = 6/25 + 2/25
                   = 8/25

Ravi new share = 3/5 - 6/25
                       = (15-6)/25
                       = 9/25

Kishan new share = 2/5 - 2/25
                          = (10-2)/25
                          = 8/25

NEW RATIO = 9/25 : 8/25 : 8/25
                  = 9:8:8