A and B, who are partners, share profits in the ratio of 7:3. C is admitted as a new partner. A surrenders 1/7 of his share and B surrenders 1/3 of his share in favour of C. The new profit sharing ratio will be _______.

6 : 2 : 2

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4 : 1 : 1

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3 : 2 : 2

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None of these

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Solution

The correct option is A $6 : 2 : 2$
Old ratio (A and B) = 7 : 3
Sacrificing ratio = Old ratio * surrender ratio
A's sacrificing ratio = (7/10) * (1/7) = 1/10
B's sacrificing ratio = (3/10) * (1/3) = 1/10
New ratio = Old ratio - sacrificing ratio
A's new share = (7/10) - (1/10) = (6/10)
B's new share = (3/10) - (1/10) = (2/10)
C's share = (1/10) + (1/10) = (2/10)
therefore, new profit sharing ratio = 6 : 2 : 2

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