Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:
L, P and G are three partners sharing profits in the ratio 15 : 9 : 8. G retires. L and P decided to share profits in equal ratio. Gaining ratio will be :
Options:
15:09
09:15
07:01
01:07
Correct Answer:
01:07
Explanation:
Gain of L = 1/2-15/32=1/32
Gain of P= 1/2-9/32=7/32
GR=1:7