P, Q and R were partners sharing profits in the ratio 2 : 2 : 1 .Q retires and the new profit sharing ratio of P and R will be 3 : 1. Gaining ratio will be :
Answer & explanation
Correct answer: option 2
Gain of P=3/4-2/5=7/20
Gain of R=1/4-1/5=1/20
GR=7:1
Gain of R=1/4-1/5=1/20
GR=7:1