Kumar, Lakshya, Manoj and Naresh are partners sharing profits in the ratio of 3 : 2 : 1 : 4. Kumar retires and his share is acquired by Lakshya and Manoj in the ratio of 3 : 2. Calculate new profit sharing ratio of remaining partners.
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 19 : 11 : 20
Kumar, Lakshya, Manoj and Naresh = 3 : 2 : 1 : 4
Kumar retires and his share = 3/10
Kumar share is acquired by Lakshya and Manoj in the ratio of 3 : 2.
Lakshya gains = 3/10 x 3/5
= 9/50
Manoj gains = 3/10 x 2/5
= 6/50
Lakshay new share = 2/10 + 9/50
= (10 + 9)/50
= 19/50
Manoj new share = 1/10 + 6/50
= (5+6)/50
= 11/50
Naresh share = 4/10 or 20/50
So , the new ratio = 19/50 : 11/50 : 20/50
= 19:11:20