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Question
Prema and Chandra share profits in the ratio of 5 : 3. Hema is admitted as a partner. Prema surrendered 1/8 of her share and Chandra surrendered 1/8 of her share in favour of Hema. Calculate the new profit sharing ratio and sacrificing ratio.
Solution
New Profit Sharing Ratio:
Prema = `5/8 xx 1/8 = 5/64; 5/8 - 5/64 = (40 - 5)/64 = 35/64`
Chandra = `3/8 xx 1/8 = 3/64; 3/8 - 3/64 = (24 - 3)/64 = 21/64`
Hema = `5/64 + 3/64 = 8/64`
New Profit Sharing Ratio = 35 : 21 : 8
Sacrificing Ratio = 5 : 3
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