Q.10. Singh, Gupta and Khan are partners in a firm sharing profits in 3:2:3 ratio. They admitted Jain as a new partner.

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 Q.10. Singh, Gupta and Khan are partners in a firm sharing profits in 3:2:3 ratio. They admitted Jain as a new partner. Singh surrendered 1/3 of his share in favour of Jain: Gupta surrendered 1/4 of his share in favour of Jain and Khan surrendered 1/5 in favour of Jain. Calculate new profit sharing ratio?

SOLUTION

Singh, Gupta and Khan are partners in a firm sharing profits in 3:2:3 ratio.

new partner jain’s share= Singh’s surrended share+ Gupta’s

surrended share+ Khan’s surrended share

Share surrended by Singh = 1/3 of singh’s old share

= 1/3 X 3/8

= 3/24

Share surrended by Gupta= 1/4 of Gupta’s old share

= 1/4 X 2/8

= 2/32

Share surrended by Khan =1/5 of Khan’s old share

=1/5 X 3/8

=3/40

new partner jain’s share= Singh’s surrended share+ Gupta’s

surrended share+ Khan’s surrended share

new partner jain’s share= 3/24 + 2/32 + 3/40

=126

480

Old Partners ner profit sharing ratio = Old share – surrended share

Singh = 3/8 – 3/24

=6/24

Gupta = 2/8 – 2/32

= 6/32

Khan =3/8 – 3/40

=12/40

Therefor new profit sharing ratio amoung the partners will be

= 6/8:24 : 6/32 : 12/40 : 126/480

= 120:90:144:126

= 20 : 15 : 24 : 21

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