K, L, M and N are partners sharing profits in the ratio of 3 : 2 : 1 : 4. K retires and his share is acquired by L & M in the ratio of 3 : 2. Calculate new profit sharing ratio between L, M & N.
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 19 : 11 : 20
Each continuing partner's new share = old share + share acquired from K.
K's share = 3/10; L acquires 3/5 of it and M 2/5 of it.
L = 2/10 + 3/5 × 3/10 = 10/50 + 9/50 = 19/50
M = 1/10 + 2/5 × 3/10 = 5/50 + 6/50 = 11/50
N = 4/10 = 20/50
New profit sharing ratio of L, M and N = 19 : 11 : 20
NCERT (2026-27 edition):
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