Rohit and Mohit are partners in a firm sharing profits in the ratio of 5 : 3. They admitted Bijoy as a new partner for 1/7 share in the profit. The new profit sharing ratio will be 4 : 2 : 1. Calculate the sacrificing ratio of Rohit and Mohit.
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → 3 : 5
Sacrificing Ratio=Old Share−New Share
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Old Ratio (Rohit : Mohit): 5:3
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Rohit's Old Share: 5/8
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Mohit's Old Share: 3/8
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New Ratio (Rohit : Mohit : Bijoy): 4:2:1
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Rohit's New Share: 4/7
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Mohit's New Share: 2/7
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- Rohit’s Sacrifice=Old Share−New Share = 5/8 - 4/7 = 3/56
- Mohit’s Sacrifice= 3/8 - 2/7 = 5/56
- Sacrificing Ratio (Rohit : Mohit)= 3/5: 5/56 = 3:5