Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Admission of a Partner

Question:

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.

Options:

5 : 3

3 : 5

3 : 4

3 : 7

Correct Answer:

3 : 5

Explanation:

The correct answer is Option (2) → 3 : 5

Sacrificing Ratio=Old ShareNew Share 

  • Old Ratio (Rohit : Mohit): 5:3

    • Rohit's Old Share: 5/8

    • Mohit's Old Share: 3/8

  • New Ratio (Rohit : Mohit : Bijoy): 4:2:1

    • Rohit's New Share: 4/7

    • Mohit's New Share: 2/7

  • Rohit’s Sacrifice=Old ShareNew 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