Question

Jayant, Kartik and Leena were partners in a firm sharing profits and losses in the ratio of 5: 2 : 3. Kartik died and Jayant and Leena decided to continue the business. Their gaining ratio was 2 : 3. Calculate the new profit sharing ratio of Jayant and Leela.

Answer 1

Jayant's Share (Old) = `5/10`

Jayant's Gain = `2/5 xx 2/10 = 4/50`

Jayant's New Share Jayant's Old Share Jayant's Gain

`= 5/10 + 4/50 = 29/50`

Leena's Share (Old) = `3/10`

Leena's Gain = `3/5 xx 2/10 = 6/50`

Leena's New Share Leena's Old Share + Leena's Gain

`= 3/10 + 6/50 = 21/50` 

Thus, the New Profit Sharing Ratio of Jayant and Leena would be 29: 21