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Question
Karthik and Kannan are equal partners. They admit Kailash with 1/4 share of the profit. Kailash acquired his share from old partners in the ratio of 7 : 3. Calculate the new profit sharing ratio and sacrificing ratio.
Solution
New Profit Sharing Ratio:
Karthik = `1/4 xx 7/10 = 7/40; 1/2 - 7/40 = (20 - 7)/40 = 13/40`
Kannan = `1/4 xx 3/10 = 3/40; 1/2 - 3/40 = (20 - 3)/40 = 17/40`
Kailash = `1/4 xx 10 = 10/40`
New Profit Sharing Ratio = 13 : 17 : 10
Sacrificing Ratio = 7 : 3
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