Keshav, Nirmal and Pankaj are partners sharing profits and losses in the ratio of 4:3:2. Nirmal retires and the goodwill is valued at ₹72,000. Keshav and Pankaj decided to share future profits and losses in the ratio of 5: 3. Gaining Ratio of Keshav and Pankaj is:
Answer & explanation
Correct answer: option 1
The correct answer is option 1- 13/24:11/24.
Old ratio = 4:3:2 (Keshav, Nirmal and Pankaj)
Nirmal retires
New ratio = 5:3 (Keshav and Pankaj)
Gained share = New share - Old share
Gained share of Keshav = 5/8 - 4/9
= (45- 32)/72
= 13/72
Gained share of Pankaj = 3/8 - 2/9
= (27- 16)/72
= 11/72
Keshav : Pankaj = 13/72 : 11/72
= 13 : 11
Or as fractions of the whole:
Keshav: 13/(13+11) = 13/24
Pankaj: 11/(13+11) = 11/24
Gaining ratio = 13/24 : 11/24