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Question
A, B and C are partners sharing profits in the ratio of 1/2 : 1/3 : 1/6. C retires and A and B decide to share future profits equally. Calculate the gaining ratio.
Sum
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Solution
Profit sharing ratio of A, B and C 1/2 : 1/3 : 1/6 i.e. 3 : 2 : 1
C retires
New profit sharing ratio of A and B is 1 : 1
A gain = `1/2-3/6=(3-3)/6=0/6`
B gain = `1/2-2/6=(3-2)/6=1/6`
A gains nothing, B gains 1/6
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