Umesh and Mahesh are partners in a firm sharing profit in the ratio of 5 : 3. They admit Brijesh as a new partner for 1/7 share in the profit. The new profit sharing ratio is 4 : 2 : 1. What will be sacrificing ratio of Umesh and Mahesh?
Answer & explanation
Correct answer: option 3
The correct answer is option 3- 3 : 5.
Old ratio = 5:3 (Umesh and Mahesh)
New ratio = 4:2:1 (Umesh, Mahesh & Brijesh)
Sacrificed share = Old share - New share
Sacrifice of Umesh = 5/8 - 4/7
= (35-32)/56
= 3/56
Sacrifice of Mahesh = 3/8 - 2/7
= (21-16)/56
= 5/56
Sacrificing ratio = 3/56 : 5/56
= 3:5