Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Admission of a Partner

Question:

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:

Options:

2:2:1

4:3:1

8:4:3

3:1:1

Correct Answer:

8:4:3

Explanation:

The correct answer is option 3- 8:4:3.

Old ratio = 2:1
R's share = 1/5
Sacrificing ratio =2:1

New share of P = 2/3 - (1/5 x2/3)
                         = 2/3 - 2/15
                         = (10-2)/15
                         = 8 /15
New share of  Q = 1/3 - (1/5 X1/3)
                          = 1/3 -1/15
                          = (5-1)/15
                          = 4/15

NEW RATIO = 8/15 :4/15:1/5
                   = 8:4:3