A and B are partners in a firm sharing profits and losses in the ratio 1:2. They admitted C into the partnership and decided to give him 1/3rd share of the full profits. What is the new ratio of the partners?

2:4:3

A’s sacrifice = 1/3 of 1/3 = 1/9
B’s sacrifice = 2/3 of 1/3 = 2/9
Sacrificing Ratio = 1/9 : 2/9 = 1:2
Calculation of new Profit sharing Ratio : New share = Old share – Sacrifice share
A’s new share = 1/3 – 1/9 = (3-1)/9=2/9
B’s new share = 2/3 – 2/9 = 6-2/9=4/9
C’s new share = 1/9 + 2/9 = 3/9
New ratio= 2:4:3