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Question
A, B & C partners in a firm sharing profits losses in the ratio of 4:3:2. B decided to retire from the firm. Calculate the new profit sharing ratio of A and C if B gives his share to A only.
A, B & C partners in a firm sharing profits losses in the ratio of 4:3:2. B decided to retire from the firm. Calculate the new profit sharing ratio of A and C if B gives his share to A only.
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Solution
The correct option is A 7:2
Old ratio (A,B and C) = 4 : 3 : 2Share of B taken by A = 3/9New share = Old share + Share taken from BA's new share = (4/9) + (3/9) = 7/9C's new share = (2/9) + 0 = 2/9
Therefore, new share of A and C = 7 : 2
Old ratio (A,B and C) = 4 : 3 : 2
Share of B taken by A = 3/9
New share = Old share + Share taken from B
A's new share = (4/9) + (3/9) = 7/9
C's new share = (2/9) + 0 = 2/9
Therefore, new share of A and C = 7 : 2
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