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Question

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


A
5:6:3
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B
2:4:6
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C
18:24:38
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D
17:11:12
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Solution

The correct option is D $$17:11:12$$
Old ratio (A and B) = 5 : 3
C is admitted for 3/10th share of profit
A's sacrifice in favour of C = 1/5
B's sacrifice in favour of C = 1/10
New ratio = Old ratio - Sacrifcing ratio
A's new ratio = (5/8) - (1/5) = 17/40
B's new ratio = (3/8) - (1/10) = 11/40
C's share = 3/10 or 12/40
Therefore, new profit sharing ratio of A : B : C is 17 : 11 : 12

Accountancy

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