Question

Gopal, Krishna and Govind were partners sharing profits and losses in the ratio of 5:4:3. Krishna retired on 1^st  April 2022. Gopal and Govind purchased his share of profit by giving him ₹ 1,20,000. ₹ 80,000 was paid by Gopal and ₹ 40,000 by Govind. Gaining ratio is ______.

Options

• 1 : 2

• 5 : 3

• 1 : 1

• 2 : 1

Answer 1

Gopal, Krishna and Govind were partners sharing profits and losses in the ratio of 5:4:3. Krishna retired on 1^st  April 2022. Gopal and Govind purchased his share of profit by giving him ₹ 1,20,000. ₹ 80,000 was paid by Gopal and ₹ 40,000 by Govind. Gaining ratio is 2 : 1.

Explanation:

Gaining Ratio = 80,000 : 40,000 = 2 : 1