Arvind and Vinod were partners sharing profits and losses in the ratio of 5 : 4. They admitted Sunil as a new partner. Arvind sacrificed 1/5th of his share and Vinod gave 1/18th of his share in favour of Sunil. Determine new profit sharing ratio between Arvind, Vinod and Sunil.
Answer & explanation
Correct answer: option 2
The correct answer is Option 2- 36 : 34 : 11
Old ratio =5:4 (Arvind and Vinod)
Sunil admitted as a new partner
Arvind sacrifice = 5/9 x 1/5
= 5/45 or 1/9
Vinod sacrifice = 4/9 x 1/18
= 2/81
New share of Arvind = 5/9 - 5/45
= (25-5)/45
= 20/45 or 4/9
New share of Vinod = 4/9 - 2/81
= ( 36-2)/81
= 34/81
Share of sunil = 1/9 + 2/81
= (9+2)/81
= 11/81
New ratio = 4/9 : 34/81 : 11/81
= 36/81 : 34/81 :11/81
= 36:34:11