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Question

A,B and C are partners sharing profits in the ratio of 2:2:1. D is admitted as a new partner for 1/6th share. C will retain his original share. Calculate the new profit sharing ratio and sacrificing ratio.

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Solution

A's old share= 2/5B's old share= 2/5C's old share= 1/5D is admitted for 1/6th share. C will retain his original share. Hence, remaining share= 1- [1/6] - [1/5] = 19/30This remaining share will be shared by A and B in their old ratio, i.e, 2:2A's new share= 2/4 * 19/30 = 38/120B's new share= 2/4 * 19/30 = 38/120New Profit sharing ratio= 38:38:24:20 = 19:19:12:10Sacrificing ratio= old ratio- new ratioA's sacrifice= 2/5- 19/60 = 5/60B's sacrifice= 2/5- 19/60 = 5/60Sacrificing ratio= 5:5= 1:1[Note: since nothing is mentioned, we assume that only A and B have sacrificed since C retains his old share]

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