Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

The old profit-sharing ratio among Rajender, Satish, Tejpal was 2:2:1. The new Profit Sharing Ratio after Satish's retirement is 3: 2. The gaining ratio is:

Options:

3:2

2:1

1:1

2:3

Correct Answer:

1:1

Explanation:

The correct answer is option 3- 1:1.

Old ratio = 2:2:1 (Rajender, Satish, Tejpal)
New ratio = 3:2 (Rajender & Tejpal)

Gained share = New share -Old share

Gaining share of Rajender = 3/5 -2/5
                                          = 1/5
Gaining share of Tejpal = 2/5 -1/5
                                          = 1/5
Gaining ratio = 1/5:1/5
                     = 1:1