Question : X, Y and Z are partners sharing profits and losses in the ratio of 4: 3: 2. Y retires and give 1/9th of his share to X and the remaining to Z new profit-sharing ratio and the gaining ratio of the firm will be
Option 1: 13:14, GR 1:8
Option 2: 4:2
Option 3: 4:3
Option 4: 13:14, GR 1:3
Correct Answer: 13:14, GR 1:8
Solution : Answer = 13:14, GR 1:8
Calculation of New Profit-sharing Ratio: X Z;
(a) Existing profit share 4/9 2/9
(b) Profit Share given by Y to X: 1/9 × 1/3 1/27 ...
Profit Share given by Y to Z: 8/9 × 1/3 8/27
(c) New Profit Share of X and Z (a + b) 13/27 14/27
Thus, the New Profit-sharing Ratio of X and Z = 13/27:14/27 = 13:14.
Calculation of Gaining Ratio:
Profit Share given by Y to X = 3/9 × 1/9 = 3/81 or 1/27 Profit Share given by Y to Z = 3/9 ×8/9 = 24/81 or 8/27 Thus, Gaining Ratio of X and Z = 1/27: 8/27 or 1: 8. Hence, the correct option is 1.
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