A and B were partners in the firm sharing profits and losses in the ratio of 4:3. They admitted C as a new partner. The new profit sharing ratio between A, B and C were 3:2:2. A surrendered `1/4` th of his share in favour of C. Calculate B’s sacrifice.
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Solution
B’s share of sacrifice is calculated below.
B's Sacrifice= Old Share - New Share
= `3/7-2/7=1/7`
Concept: Admission of a Partner - Sacrifice Ratio and New Ratio
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