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 :
Answer & explanation
Correct answer: option 4
The correct answer is option 4- 1:7.
Old ratio = 15:9:8 (L, P and G)
G retires
New ratio = 1 :1 ( L & P)
Gained share = New share - Old share
Gain of L = 1/2 - 15/32
= (16-15)/32
= 1/32
Gain of P = 1/2-9/32
= (16-9)/32
= 7/32
Gaining ratio = 1/32 : 7/32
= 1:7