Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:

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 ?

Options:

3 : 4

4 : 2

3 : 5

5 : 3

Correct Answer:

3 : 5

Explanation:

The correct answer is option 3- 3 : 5.

Old ratio = 5:3 (Umesh and Mahesh)
New ratio = 4:2:1 (Umesh, Mahesh & Brijesh)

Sacrifice = 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