Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:

A and B are partners in a partnership firm, sharing profits in 3 : 2 ratio. They agreed to admit new partner C. A sacrifices 1/6 from his share and B sacrifices 1/4 from his share. Calculate new profit sharing ratio between A, B and C.

Options:

26 : 9 : 25

5 : 3 : 2

1 : 1 : 1

25 20 : 15

Correct Answer:

26 : 9 : 25

Explanation:

The correct answer is Option (1) → 26 : 9 : 25

$A = \frac{3}{5}- \frac{1}{6} = \frac{13}{30}$

$B = \frac{2}{5} - \frac{1}{4}=\frac{3}{20}$

$C = \frac{1}{6}+\frac{1}{4}=\frac{2+3}{12}=\frac{5}{12}$

A   $\frac{13}{30} \times 60=26$

B   $\frac{3}{20} \times 60=9$

C   $\frac{5}{12} \times 60=25$

New ratio → 26 : 9 : 25