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Question
Anurag and Bhawana entered into the partnership on 1.4.2014. On 1.1.2015 they admitted Monika as a new partner for `3/10` th share in the profits which she acquired equally from Anurag and Bhawana. The new profit sharing ratio of Anurag, Bhawana and Monika was 4:3:3. Calculate the profit sharing ratio of Anurag and Bhawana at the time of forming the partnership.
Solution
Anurag: Bhawana: Monika
New Ratio is 4 :3:3
or `4/10: 3/10: 3/10`
Anurag's old share = New share + Share sacrificed to Monika
`= 4/10 + (3/10 xx 1/2) = 11/20`
Bhawana's old share = New share + Share sacrificed to Monika
`= 3/10 + (3/10 xx 1/10) = 9/20`
Old ratio of Anurag and Bhawana is 11:9
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