A and B were partners in a firm sharing profits in 3:2 ratio. They admitted C for 3/7 share which he took 2/7 from A and 1/7 from B. Calculate new profit sharing ratio?

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Solution

C admitted for share in the new firm

A’s sacrifice =

B’s sacrifice

New Ratio = Old Ratio − Sacrificing Ratio

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A and B were partners in a firm sharing profits in 3:2 ratio. They admitted C for 3/7 share which he took 2/7 from A and 1/7 from B. Calculate new profit sharing ratio?

C admitted for share in the new firm A’s sacrifice = B’s sacrifice New Ratio = Old Ratio − Sacrificing Ratio

C admitted for share in the new firm

A’s sacrifice =

B’s sacrifice

New Ratio = Old Ratio − Sacrificing Ratio