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Standard XII

Accountancy

Calculating Gaining Ratio

A and B are p...

Question

A and B are partners sharing profits in the ratio 5 : 3. They admitted C giving him 3/10 share of profit. If C acquires 1/5th share from A and 1/10th from B, the new profit sharing ratio will be _________.

5 : 6 : 3

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2 : 4 : 6

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18 : 24 : 38

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17 : 11 : 12

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Solution

The correct option is D $17 : 11 : 12$
Old ratio (A : B) = 5 : 3
C admits for 3/10 share
A sacrifices in favour of C = 1/5
B sacrifices in favour of C = 1/10
New ratio = Old ratio - sacrificing ratio
A's new share = (5/8) - (1/5) = 17/40
B's new share = (3/8) - (1/10) = 22/80 or 11/40
C's share = 3/10 or 12/40
Therefore, new share of A, b and C is 17 : 11 : 12

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