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Ankit and basant are partners in a firm sharing profits and losses in the ratio of 3:2 they admit chandan into the partnership for 1/5th share in future profit sharing ratio between ankit and basant would be 5:7 calculate new profit sharing ratio?
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Ankit and basant are partners in a firm sharing profits and losses in ...
Solution:

Given, Ankit and Basant are partners in a firm sharing profits and losses in the ratio of 3:2.

Step 1: Calculation of Share of Ankit and Basant
Let the total profit be x
Ankit's share = 3x/5
Basant's share = 2x/5

Step 2: Admission of Chandan
Chandan is admitted for 1/5th share, which means his share is x/5

Step 3: Calculation of New Profit Sharing Ratio
Total ratio of the profit sharing after admission of Chandan = 3:2:1
Let the new profit sharing ratio between Ankit and Basant be 5y and 7y respectively.
Total ratio of the profit sharing = 5y + 7y + 1y = 13y
Ankit's share = 5y/13
Basant's share = 7y/13
Chandan's share = 1y/13

Therefore, the new profit sharing ratio between Ankit and Basant would be 5:7.
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Ankit and basant are partners in a firm sharing profits and losses in ...
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Ankit and basant are partners in a firm sharing profits and losses in the ratio of 3:2 they admit chandan into the partnership for 1/5th share in future profit sharing ratio between ankit and basant would be 5:7 calculate new profit sharing ratio?
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