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A and b are partners in a firm sharing profits in the ratio of 7:3 .c is admitted As a new partner . A sacrifies 2/7th of his share in profits in favour of c and b 1/7th of his share in favour of c. Calculate the new profit sharing ratio between a,b and c.?
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A and b are partners in a firm sharing profits in the ratio of 7:3 .c ...
**Given information:**
- A and B are partners in a firm.
- The ratio of their profit sharing is 7:3.
- C is admitted as a new partner.
- A sacrifices 2/7th of his share in favor of C.
- B sacrifices 1/7th of his share in favor of C.
**Calculating the new profit sharing ratio:**
1. Determine the original profit sharing ratio between A and B:
- A's share = 7/10 of the total profit.
- B's share = 3/10 of the total profit.
2. Calculate the amount sacrificed by A and B:
- A sacrifices 2/7 of his share, i.e., (2/7) * (7/10) = 2/10 of the total profit.
- B sacrifices 1/7 of his share, i.e., (1/7) * (3/10) = 3/70 of the total profit.
3. Calculate the new profit sharing ratio:
- A's new share = A's original share - amount sacrificed = 7/10 - 2/10 = 5/10.
- B's new share = B's original share - amount sacrificed = 3/10 - 3/70 = 18/70.
- C's share = amount sacrificed by A + amount sacrificed by B = 2/10 + 3/70 = 19/70.
4. Simplify the new profit sharing ratio:
- Multiply the ratio by a common factor to remove decimals, if any.
- Multiply all the shares by 70 to get rid of fractions.
- The new profit sharing ratio becomes:
- A : B : C = (5/10) * 70 : (18/70) * 70 : (19/70) * 70
= 35 : 18 : 19
5. Final profit sharing ratio:
- The new profit sharing ratio between A, B, and C is 35:18:19.
**Conclusion:**
The new profit sharing ratio between A, B, and C is 35:18:19. This means A will receive 35 parts of the profit, B will receive 18 parts, and C will receive 19 parts.
- A and B are partners in a firm.
- The ratio of their profit sharing is 7:3.
- C is admitted as a new partner.
- A sacrifices 2/7th of his share in favor of C.
- B sacrifices 1/7th of his share in favor of C.
**Calculating the new profit sharing ratio:**
1. Determine the original profit sharing ratio between A and B:
- A's share = 7/10 of the total profit.
- B's share = 3/10 of the total profit.
2. Calculate the amount sacrificed by A and B:
- A sacrifices 2/7 of his share, i.e., (2/7) * (7/10) = 2/10 of the total profit.
- B sacrifices 1/7 of his share, i.e., (1/7) * (3/10) = 3/70 of the total profit.
3. Calculate the new profit sharing ratio:
- A's new share = A's original share - amount sacrificed = 7/10 - 2/10 = 5/10.
- B's new share = B's original share - amount sacrificed = 3/10 - 3/70 = 18/70.
- C's share = amount sacrificed by A + amount sacrificed by B = 2/10 + 3/70 = 19/70.
4. Simplify the new profit sharing ratio:
- Multiply the ratio by a common factor to remove decimals, if any.
- Multiply all the shares by 70 to get rid of fractions.
- The new profit sharing ratio becomes:
- A : B : C = (5/10) * 70 : (18/70) * 70 : (19/70) * 70
= 35 : 18 : 19
5. Final profit sharing ratio:
- The new profit sharing ratio between A, B, and C is 35:18:19.
**Conclusion:**
The new profit sharing ratio between A, B, and C is 35:18:19. This means A will receive 35 parts of the profit, B will receive 18 parts, and C will receive 19 parts.
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A and b are partners in a firm sharing profits in the ratio of 7:3 .c is admitted As a new partner . A sacrifies 2/7th of his share in profits in favour of c and b 1/7th of his share in favour of c. Calculate the new profit sharing ratio between a,b and c.?
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A and b are partners in a firm sharing profits in the ratio of 7:3 .c is admitted As a new partner . A sacrifies 2/7th of his share in profits in favour of c and b 1/7th of his share in favour of c. Calculate the new profit sharing ratio between a,b and c.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about A and b are partners in a firm sharing profits in the ratio of 7:3 .c is admitted As a new partner . A sacrifies 2/7th of his share in profits in favour of c and b 1/7th of his share in favour of c. Calculate the new profit sharing ratio between a,b and c.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and b are partners in a firm sharing profits in the ratio of 7:3 .c is admitted As a new partner . A sacrifies 2/7th of his share in profits in favour of c and b 1/7th of his share in favour of c. Calculate the new profit sharing ratio between a,b and c.?.
A and b are partners in a firm sharing profits in the ratio of 7:3 .c is admitted As a new partner . A sacrifies 2/7th of his share in profits in favour of c and b 1/7th of his share in favour of c. Calculate the new profit sharing ratio between a,b and c.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about A and b are partners in a firm sharing profits in the ratio of 7:3 .c is admitted As a new partner . A sacrifies 2/7th of his share in profits in favour of c and b 1/7th of his share in favour of c. Calculate the new profit sharing ratio between a,b and c.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and b are partners in a firm sharing profits in the ratio of 7:3 .c is admitted As a new partner . A sacrifies 2/7th of his share in profits in favour of c and b 1/7th of his share in favour of c. Calculate the new profit sharing ratio between a,b and c.?.
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A and b are partners in a firm sharing profits in the ratio of 7:3 .c is admitted As a new partner . A sacrifies 2/7th of his share in profits in favour of c and b 1/7th of his share in favour of c. Calculate the new profit sharing ratio between a,b and c.?, a detailed solution for A and b are partners in a firm sharing profits in the ratio of 7:3 .c is admitted As a new partner . A sacrifies 2/7th of his share in profits in favour of c and b 1/7th of his share in favour of c. Calculate the new profit sharing ratio between a,b and c.? has been provided alongside types of A and b are partners in a firm sharing profits in the ratio of 7:3 .c is admitted As a new partner . A sacrifies 2/7th of his share in profits in favour of c and b 1/7th of his share in favour of c. Calculate the new profit sharing ratio between a,b and c.? theory, EduRev gives you an
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