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:
Answer & explanation
Correct answer: option 3
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