Question : P, Q and R were partners sharing profit or loss in the ratio of 8:4:3. From Jan. 1, 2019 they decided to share profit or loss in the ratio of 7:3:2. Due to change in the profit-loss sharing ratio, Q’s gain or sacrifice will be :
Option 1: sacrifice 1/60
Option 2: Gain 1/60
Option 3: Gain 1/30
Option 4: Sacrifice 1/20
Correct Answer: sacrifice 1/60
Solution : Answer = sacrifice 1/60
S.R. = old Ratio - new Ratio
P = 8/15 - 7/12 = 32 - 35/60 = -3/60 (gain)
Q = 4/15 - 3/12 = 16 -15/60 = 1/60 (sacrifice)
R = 3/15 - 2/12 = 12-10/60 = 2/60 (sacrifice) Hence, the correct option is 1.
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:
Question : Ram and Balram were partners in a firm sharing profit or loss 4:3. With effect from 1st April 2019 they agreed to share profits in the ratio of equally Due to a change in profit sharing ratio, Ram’s gain or sacrifice will be :
Question : Ram and Balram were partners in a firm sharing profit or loss equally. With effect from 1st April, 2019 they agreed to share profits in the ratio of 8: 6. Due to change in profit sharing ratio, Balram’s gain or sacrifice will be :
Question : Rajiv and Ravi were partners in a firm sharing profits or losses in the ratio of 3:1 .With effect from 1st January, 2020, they agreed to share profits in the ratio of 2:1. Due to change in profit-sharing ratio, Rajiv s gain or sacrifice will be
Question : X and Y were partners in a firm sharing profits equally. With effect from 1st April 2020, they decided to share profits in the ratio of 4:3. Due to the change in the profit-sharing ratio gain or sacrifice will be
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile