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Vinod and Pandey are partners sharing profits in the ratio of 7:3 respectively. On 1.4.2015 they have decided to change their profit sharing ratio to 6:4. Calculate sacrifice/gain of Vinod.
- a)Vinod’s Sacrifice 1/10
- b)Vinod’s Sacrifice 2/10
- c)Vinod’s Gain 2/10
- d)Vinod’s Gain 1/10
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
Vinod and Pandey are partners sharing profits in the ratio of 7:3 resp...
Calculation of sacrifice or gain:
Formula = Old Share – New Share
Vinod = 7/10 – 6/10 = 1/10 Sacrifice
Pandey = 3/10 – 4/10 = -1/10 Gain
Formula = Old Share – New Share
Vinod = 7/10 – 6/10 = 1/10 Sacrifice
Pandey = 3/10 – 4/10 = -1/10 Gain
Most Upvoted Answer
Vinod and Pandey are partners sharing profits in the ratio of 7:3 resp...
Vinod p Old ratio = 7\10: 3\10 New ratio= 6\10: 4\10 sacrificing ratio= old ratio - new ratio Vinod sacrifice= 7/10- 6/10= 1/10
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Vinod and Pandey are partners sharing profits in the ratio of 7:3 resp...
Vinod's Sacrifice Calculation
Vinod and Pandey initially shared profits in the ratio of 7:3. When they decided to change their profit sharing ratio to 6:4 on 1.4.2015, it means that Vinod had to sacrifice some of his share for Pandey to gain more.
Step 1: Calculate Initial Profit Sharing
- Initial profit sharing ratio = 7:3
- Let the initial total profit be x
- Vinod's share = 7x/10
- Pandey's share = 3x/10
Step 2: Calculate New Profit Sharing
- New profit sharing ratio = 6:4
- Let the new total profit be y
- Vinod's new share = 6y/10
- Pandey's new share = 4y/10
Step 3: Calculate Sacrifice or Gain
- Vinod's sacrifice = Initial share - New share
- Vinod's sacrifice = 7x/10 - 6y/10
- Vinod's sacrifice = (7x - 6y)/10
Step 4: Set up the Equation
- Since the total profit remains the same, x = y
- Substitute x = y in the sacrifice equation
- Vinod's sacrifice = (7x - 6x)/10
- Vinod's sacrifice = x/10
- Vinod's sacrifice = 1/10
Therefore, Vinod's sacrifice is 1/10 of the total profit. This means that Vinod had to give up 1/10 of his share in the partnership for Pandey to gain more in the new profit sharing ratio of 6:4.
Vinod and Pandey initially shared profits in the ratio of 7:3. When they decided to change their profit sharing ratio to 6:4 on 1.4.2015, it means that Vinod had to sacrifice some of his share for Pandey to gain more.
Step 1: Calculate Initial Profit Sharing
- Initial profit sharing ratio = 7:3
- Let the initial total profit be x
- Vinod's share = 7x/10
- Pandey's share = 3x/10
Step 2: Calculate New Profit Sharing
- New profit sharing ratio = 6:4
- Let the new total profit be y
- Vinod's new share = 6y/10
- Pandey's new share = 4y/10
Step 3: Calculate Sacrifice or Gain
- Vinod's sacrifice = Initial share - New share
- Vinod's sacrifice = 7x/10 - 6y/10
- Vinod's sacrifice = (7x - 6y)/10
Step 4: Set up the Equation
- Since the total profit remains the same, x = y
- Substitute x = y in the sacrifice equation
- Vinod's sacrifice = (7x - 6x)/10
- Vinod's sacrifice = x/10
- Vinod's sacrifice = 1/10
Therefore, Vinod's sacrifice is 1/10 of the total profit. This means that Vinod had to give up 1/10 of his share in the partnership for Pandey to gain more in the new profit sharing ratio of 6:4.
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Vinod and Pandey are partners sharing profits in the ratio of 7:3 respectively. On 1.4.2015 they have decided to change their profit sharing ratio to 6:4. Calculate sacrifice/gain of Vinod.a)Vinod’s Sacrifice 1/10b)Vinod’s Sacrifice 2/10c)Vinod’s Gain 2/10d)Vinod’s Gain 1/10Correct answer is option 'A'. Can you explain this answer?
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Vinod and Pandey are partners sharing profits in the ratio of 7:3 respectively. On 1.4.2015 they have decided to change their profit sharing ratio to 6:4. Calculate sacrifice/gain of Vinod.a)Vinod’s Sacrifice 1/10b)Vinod’s Sacrifice 2/10c)Vinod’s Gain 2/10d)Vinod’s Gain 1/10Correct answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Vinod and Pandey are partners sharing profits in the ratio of 7:3 respectively. On 1.4.2015 they have decided to change their profit sharing ratio to 6:4. Calculate sacrifice/gain of Vinod.a)Vinod’s Sacrifice 1/10b)Vinod’s Sacrifice 2/10c)Vinod’s Gain 2/10d)Vinod’s Gain 1/10Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Vinod and Pandey are partners sharing profits in the ratio of 7:3 respectively. On 1.4.2015 they have decided to change their profit sharing ratio to 6:4. Calculate sacrifice/gain of Vinod.a)Vinod’s Sacrifice 1/10b)Vinod’s Sacrifice 2/10c)Vinod’s Gain 2/10d)Vinod’s Gain 1/10Correct answer is option 'A'. Can you explain this answer?.
Vinod and Pandey are partners sharing profits in the ratio of 7:3 respectively. On 1.4.2015 they have decided to change their profit sharing ratio to 6:4. Calculate sacrifice/gain of Vinod.a)Vinod’s Sacrifice 1/10b)Vinod’s Sacrifice 2/10c)Vinod’s Gain 2/10d)Vinod’s Gain 1/10Correct answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Vinod and Pandey are partners sharing profits in the ratio of 7:3 respectively. On 1.4.2015 they have decided to change their profit sharing ratio to 6:4. Calculate sacrifice/gain of Vinod.a)Vinod’s Sacrifice 1/10b)Vinod’s Sacrifice 2/10c)Vinod’s Gain 2/10d)Vinod’s Gain 1/10Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Vinod and Pandey are partners sharing profits in the ratio of 7:3 respectively. On 1.4.2015 they have decided to change their profit sharing ratio to 6:4. Calculate sacrifice/gain of Vinod.a)Vinod’s Sacrifice 1/10b)Vinod’s Sacrifice 2/10c)Vinod’s Gain 2/10d)Vinod’s Gain 1/10Correct answer is option 'A'. Can you explain this answer?.
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