P, Q and R have been sharing profits in the ratio of 8 : 5 : 3. P retires. Q takes 3/16th share from P and R takes 5/16th share from P. What will be the new profit sharing ratio?
Answer & explanation
Correct answer: option 1
The correct answer is option 1- 1:1.
Old ratio = 8:5:3 (P, Q and R)
Gain of Q = 3/16
Gain of R = 5/16
New share = Old share + Gained share
New Share of Q = 5/16 + 3/16
= 8/16
New Share of R = 3/16 + 5/16
= 8/16
NPR = 8/16 : 8/16
= 1:1