Practicing Success
Read the following passage and answer the question. Ravi, Kavi and Sunny are partners in a firm sharing profits and losses in the ratio 4 : 2 : 3. On 1st April 2022, Sunny gives notice for his retirement. His share was taken by Ravi and Kavi in 13 : 11 and goodwill of the firm was valued at ₹ 72000. After three months, they admit Hari as a new partner for $\frac{1}{5}$th share in firm who brings ₹ 2,00,000 as capital and necessary amount for goodwill in cash which was valued ₹ 80,000 for the firm. Hari acquired his share equally from Ravi and Kavi. |
Identify the new profit sharing ratio between Ravi and Kavi after Sunny retirement. |
2 : 1 13 : 11 5 : 3 4 : 3 |
5 : 3 |
The correct answer is Option (3) - 5 : 3. Old ratio = 4:2:3 Acquired share by Ravi = 3/9 x 13/24 Acquired share by Kavi = 3/9 x 11/24 Ravi's new share = 4/9 + 13/72 Kavi's new share = 2/9 + 11/72 New ratio = 45/72 : 27/72 |