Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:

Amit and Sumit are partners in a firm sharing profits in the ratio of 3 : 2. They admit Sanjit as a partner for 1/4th share in the profits. Sanjit acquires his share from Amit and Sumit in the ratio of 2 : 1. The new profit-sharing ratio will be:

Options:

02:01:04

19:26:15

03:02:04

26:19:15

Correct Answer:

26:19:15

Explanation:

The correct answer is option 4- 26:19:15.
Old ratio = 3:2
Sanjit admitted for 1/4th share in the profits which he acquires from Amit and Sumit in the ratio of 2:1.

Sacrifice of Amit = 2/3 * 1/4
                        = 2/12
Sacrifice of Sumit = 1/3*1/4
                          = 1/12

New share = Old share - Sacrifice share

New Share of Amit = 3/5-2/12
                            = (36-10)/60
                            = 26/60

New Share of Sumit = 2/5-1/12
                              = (24-5)/60
                              = 19/60

Share of Sanjit = 1/4 or 15/60

New ratio = 26/60 : 19/60 : 15/60
              = 26:19:15