A, B & C are partners sharing profits in the ratio of 5:4:1. Their capital accounts showing balance of ₹3,00,000, ₹1,50,000, ₹1,50,000 respectively. It is decided between partners that they will share future profits equally. Firm has the following information-

Creditors- ₹1,10,000
Salary payable- ₹30,000
O/s expenses- ₹10,000
General reserve- ₹40,000
Bank balance- ₹2,10,000
Sundry debtors- ₹1,00,000
Provision for doubtful debts- ₹10,000
Stock -₹50,000
Furniture- ₹40,000
Computers- ₹2,00,000
Vehicle- ₹2,00,000

Calculate the gain of partner C.

7/30

The correct answer is option 4- 7/30.

Old ratio is 5:4:1
New ratio is 1:1:1
Gain of C = New share - old share
               = 1/3 -1/10
               = (10-3)/30
               = 7/30