A and B are partners sharing profit or loss in the ratio of 4:1. A surrenders 1/4th of his share and B surrenders 1/12th of his share in favour of C, a new partner. What will be the C's share?
Answer & explanation
Correct answer: option 4
Sacrifice of A= 1/4*4/5=1/5
=12/60
Sacrifice of B= 1/12*1/5
=1/60
Share of C= 12/60+1/60
=13/60