In the absence of any information, it is assumed that the remaining partners acquire the share of profit of the retiring/deceased partner in:

Old Profit Sharing Ratio

The correct answer is Option (2) → Old Profit Sharing Ratio

In the absence of any specific agreement, it is assumed that the continuing partners acquire the retiring or deceased partner’s share of profit in their old profit-sharing ratio. This presumption avoids disputes unless a new ratio is expressly decided.