Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:

A and B are partners sharing profit or loss in the ratio of 3:2. C is admitted into partnership as a new partner. A sacrifices 1/3 of his share and B sacrifices 1/4 of his share in favour of C. What will be the C's share in the firm?

Options:

1/5

3/10

3/5

None of the Above

Correct Answer:

3/10

Explanation:

Sacrifice by A = 1/3*3/5
                     = 1/5
Sacrifice of B = 1/4*2/5
                    =1/10
C's share= 1/5+1/10
               = (2+1)/10
               =3/10