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L and M are partners in …

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L and M are partners in a firm sharing profits in the ratio of 5:3. They admit N and decide that the profit - sharing ratio between M and N shall be same as existing between L and M. Calculate new profit sharing ratio and sacrificing ratio

Posted by Sakshi Shree 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Taher Sadikot 6 years, 9 months ago

As there is mentioned that M and N will be sharing profit as it is between L and M so L and M ratio is 5:3. Then M and N will share 5:3 so for 5 share Mhas 3 then for 3 share how much for N by cross multiplication it will come to 3/5*3=1.8

5:3:1.8=25:15:9 is the new ratio and sacrifice will be old ratio - new ratio

L= 5/8-25/49 =(245-200)/392=45/392

M=3/8-15/49 = (147-120)/392 = 27/392

sacrifice is 45:27=5:3

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