Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

X, Y & Z were partners sharing profits and losses in the ratio of 4:3:1. Y retires and gives his share of profit to X for ₹3500 and to Z for ₹2100. What will be the gaining ratio of X and Z?

Options:

3:5

5:3

2:1

4:1

Correct Answer:

5:3

Explanation:

Y share= 3/8
He gives (3500+2100) i.e. 5600 for 3/8th share.
Gaining ratio will be= 3500/2100= 5/3 or 5:3