Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:
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 :
Options:
01:07
07:01
01:02
05:04
Correct Answer:
07:01
Explanation:
Gain of P=3/4-2/5=7/20
Gain of R=1/4-1/5=1/20
GR=7:1