Question : Ali and Bali were partners in a firm sharing profit or loss in the ratio of 2:1. With effect from Jan. 1, 2019 they agreed to share profit or loss in the ratio of 3:2. Due to change in profit-loss sharing ratio, Bali’s gain or sacrifice will be:
Option 1: Sacrifice 1/15
Option 2: Gain 1/15
Option 3: Gain 1/3
Option 4: Sacrifice 1/3
Answer (1)
8th Jan, 2024
Correct Answer: Gain 1/15
Solution : Answer = Gain 1/15
Sacrificing Ratio = Old ratio - New Ratio
Ali = 2/3 - 3/5 = 10-9/15 = 1/15 (sacrifice)
Bali = 1/3 - 2/5 = 5-6/15 = -1/15 (gain)
Hence, the correct option is 2.
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