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A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1 / 6th share in the profit. He acquires this share as 1 / 24th from A and 1 / 8th from B. Calculate new profit-sharing ratio.
- a)12 : 7 : 4
- b)13 : 7 : 4
- c)7 : 3 : 2
- d)13 : 3 : 4
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
A and B are partners sharing profits and losses in the proportion of 7...
A's old share = 7 / 12
B's old share = 5 / 12
C is admitted for 1 / 6th share
A's new ratio = 7 / 12 - 1 / 24 = 13 / 24
B's new ratio = 5 / 12 - 1 / 8 = 7 / 24
New Ratio of the firm = 13 : 7 : 4
B's old share = 5 / 12
C is admitted for 1 / 6th share
A's new ratio = 7 / 12 - 1 / 24 = 13 / 24
B's new ratio = 5 / 12 - 1 / 8 = 7 / 24
New Ratio of the firm = 13 : 7 : 4
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A and B are partners sharing profits and losses in the proportion of 7...
To calculate the new profit-sharing ratio, we need to determine the new profit share of each partner after admitting C into the partnership.
Let's assume the total profit of the partnership is P.
1. A's Share:
A gives 1/24th of his share to C. Therefore, A's new share becomes (7/24)P.
2. B's Share:
B gives 1/8th of his share to C. Therefore, B's new share becomes (5/8)P.
3. C's Share:
C acquires 1/6th share in the profit. Therefore, C's share becomes (1/6)P.
Now, let's calculate the new profit-sharing ratio:
Total shares = A's share + B's share + C's share
Total shares = (7/24)P + (5/8)P + (1/6)P
Total shares = (14/48)P + (30/48)P + (8/48)P
Total shares = (52/48)P
Total shares = (13/12)P
Now, we can calculate the new profit-sharing ratio for A, B, and C by dividing their respective shares by the total shares:
A's new profit share = (7/24)P / (13/12)P
= (7/24) / (13/12)
= 7/13
B's new profit share = (5/8)P / (13/12)P
= (5/8) / (13/12)
= 5/13
C's new profit share = (1/6)P / (13/12)P
= (1/6) / (13/12)
= 1/26
Therefore, the new profit-sharing ratio is 13 : 7 : 4, which corresponds to A, B, and C respectively.
Hence, the correct answer is option B) 13 : 7 : 4.
Let's assume the total profit of the partnership is P.
1. A's Share:
A gives 1/24th of his share to C. Therefore, A's new share becomes (7/24)P.
2. B's Share:
B gives 1/8th of his share to C. Therefore, B's new share becomes (5/8)P.
3. C's Share:
C acquires 1/6th share in the profit. Therefore, C's share becomes (1/6)P.
Now, let's calculate the new profit-sharing ratio:
Total shares = A's share + B's share + C's share
Total shares = (7/24)P + (5/8)P + (1/6)P
Total shares = (14/48)P + (30/48)P + (8/48)P
Total shares = (52/48)P
Total shares = (13/12)P
Now, we can calculate the new profit-sharing ratio for A, B, and C by dividing their respective shares by the total shares:
A's new profit share = (7/24)P / (13/12)P
= (7/24) / (13/12)
= 7/13
B's new profit share = (5/8)P / (13/12)P
= (5/8) / (13/12)
= 5/13
C's new profit share = (1/6)P / (13/12)P
= (1/6) / (13/12)
= 1/26
Therefore, the new profit-sharing ratio is 13 : 7 : 4, which corresponds to A, B, and C respectively.
Hence, the correct answer is option B) 13 : 7 : 4.
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A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1 / 6th share in the profit. He acquires this share as 1 / 24th from A and 1 / 8th from B. Calculate new profit-sharing ratio.a)12 : 7 : 4b)13 : 7 : 4c)7 : 3 : 2d)13 : 3 : 4Correct answer is option 'B'. Can you explain this answer?
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A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1 / 6th share in the profit. He acquires this share as 1 / 24th from A and 1 / 8th from B. Calculate new profit-sharing ratio.a)12 : 7 : 4b)13 : 7 : 4c)7 : 3 : 2d)13 : 3 : 4Correct answer is option 'B'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1 / 6th share in the profit. He acquires this share as 1 / 24th from A and 1 / 8th from B. Calculate new profit-sharing ratio.a)12 : 7 : 4b)13 : 7 : 4c)7 : 3 : 2d)13 : 3 : 4Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1 / 6th share in the profit. He acquires this share as 1 / 24th from A and 1 / 8th from B. Calculate new profit-sharing ratio.a)12 : 7 : 4b)13 : 7 : 4c)7 : 3 : 2d)13 : 3 : 4Correct answer is option 'B'. Can you explain this answer?.
A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1 / 6th share in the profit. He acquires this share as 1 / 24th from A and 1 / 8th from B. Calculate new profit-sharing ratio.a)12 : 7 : 4b)13 : 7 : 4c)7 : 3 : 2d)13 : 3 : 4Correct answer is option 'B'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1 / 6th share in the profit. He acquires this share as 1 / 24th from A and 1 / 8th from B. Calculate new profit-sharing ratio.a)12 : 7 : 4b)13 : 7 : 4c)7 : 3 : 2d)13 : 3 : 4Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1 / 6th share in the profit. He acquires this share as 1 / 24th from A and 1 / 8th from B. Calculate new profit-sharing ratio.a)12 : 7 : 4b)13 : 7 : 4c)7 : 3 : 2d)13 : 3 : 4Correct answer is option 'B'. Can you explain this answer?.
Solutions for A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1 / 6th share in the profit. He acquires this share as 1 / 24th from A and 1 / 8th from B. Calculate new profit-sharing ratio.a)12 : 7 : 4b)13 : 7 : 4c)7 : 3 : 2d)13 : 3 : 4Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 12.
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A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1 / 6th share in the profit. He acquires this share as 1 / 24th from A and 1 / 8th from B. Calculate new profit-sharing ratio.a)12 : 7 : 4b)13 : 7 : 4c)7 : 3 : 2d)13 : 3 : 4Correct answer is option 'B'. Can you explain this answer?, a detailed solution for A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1 / 6th share in the profit. He acquires this share as 1 / 24th from A and 1 / 8th from B. Calculate new profit-sharing ratio.a)12 : 7 : 4b)13 : 7 : 4c)7 : 3 : 2d)13 : 3 : 4Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1 / 6th share in the profit. He acquires this share as 1 / 24th from A and 1 / 8th from B. Calculate new profit-sharing ratio.a)12 : 7 : 4b)13 : 7 : 4c)7 : 3 : 2d)13 : 3 : 4Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1 / 6th share in the profit. He acquires this share as 1 / 24th from A and 1 / 8th from B. Calculate new profit-sharing ratio.a)12 : 7 : 4b)13 : 7 : 4c)7 : 3 : 2d)13 : 3 : 4Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Class 12 tests.
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