Question : A, B and C are partners sharing profits in the ratio of 1/2, 3/10 and 1/5. B retires from the firm and A and C agree to share future profits in the ratio of 3: 2. Gaining ratio will be
Option 1: 2:1
Option 2: 1:2
Option 3: 5:3
Option 4: None of the above
Correct Answer: 1:2
Solution : Answer = 1:2
(i) New Profit Share 3/5 2/5
(ii) Old Profit Share 1/2 1/5
(iii) Gain of a Partner [(i) - (ii)] 3/5 - 1/2 = 1/10; 2/5-1/5 = 2/10
Thus, Gaining Ratio of A and C =: = 1:2. Hence, the correct option is 2.
Question :
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