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Question

A, B and C are partners sharing profits and losses I the ratio of $$1/2, 3/10$$ and $$1/5$$, B retires from the firm, A and C decide to share the future profits and losses in $$3: 2$$, Calculate gaining ratio.


A
1:2
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B
1:3:2
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C
2:3
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D
None of these
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Solution

The correct option is A $$1:2$$
Old ratio (A, B and C) = 1/2, 3/10 and 1/5 or 5 : 3 : 2
New ratio (A and C) = 3 : 2
Gaining ratio = New ratio - Old ratio 
A's new share = (3/5) - (5/10) =  1/10
C's new share = (2/5) - (2/10) = 2/10
Therefore, new ratio of A and C is 1 : 2

Accountancy

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