Practicing Success
X and Y are partners in a firm sharing profit and losses in the ratio of 3:2. Z is admitted as partner in the firm for 1/6th share in profits. Z acquires his share from X and Y in the ratio of 2:1. What will be the new profit sharing ratio of partners? |
47:32:12 44:31:15 48:33:14 41:30:16 |
44:31:15 |
The correct answer is option 2- 44:31:15. Z's share = 1/6 (i) Calculation of Sacrifice share : (ii) Calculation of New Profit Sharing Ratio : New share = Old share – Sacrifice share Y’s new share = 2/5 – 1/18 Z’s new share = 1/6 New ratio among X, Y and Z = 44/90 : 31/90 : 1/6 |