Practicing Success
P and Q are partners sharing profit in 2:1 ratio. They admitted R into partnership giving him 1/5th share which he acquired from P and Q in a 2:1 ratio. New Profit Sharing Ratio will be: |
2:2:1 4:3:1 8:4:3 3:1:1 |
8:4:3 |
Old ratio = 2:1 |