Question

On 1st April, 2022 Ashish, Namish and Aman were partners sharing profits and losses in the ratio of 2/5, 2/5 and 1/5 respectively. On this date Namish retires. The new profit sharing ratio of Ashish and Aman will be 3/4 and 1/4 respectively. Calculate gaining ratio.

Answer 1

The ratio of Ashish, Namish and Aman is `2/5:2/5:1/5`

∴ Ashish: Namish : Aman = 2 : 2 : 1

The new profit sharing ratio of Ashish and Aman is `3/4:1/4`

∴ Ashish : Aman = 3 : 1

Gaining Ratio = New Ratio - Old Ratio

∴ Ashish's Gaining ratio = `3/4-2/5=(15-8)/20=7/20`

∴ Aman's Gaining ratio = `1/4-1/5=(5-4)/20=1/20`

Gaining ratio of Ashish and Aman is 7 : 1.