Rohit and Mohit are partners in a firm sharing profits in the ratio of 5:3. They admit Bijoy as a new partner for 1/7th share in the profits. The new profit sharing ratio will be 4:2:1. The sacrificing ratio of Rohit and Mohit is-
Answer & explanation
Correct answer: option 2
The correct answer is option 2- 3:5.
Old ratio = 5:3 (Rohit & Mohit)
Bijoy admits with 1/7th share
New ratio = 4:2:1 (Rohit, Mohit & Bijoy)
Sacrificed share = Old share - New share
Sacrifice of R = 5/8 - 4/7
= (35-32)/56
= 3/56
Sacrifice of S = 3/8 - 2/7
= (21- 16)/56
= 5/56
Sacrificing ratio = 3/56 :5/56
= 3:5