Question

Kumar, Lakshya, Manoj and Naresh are partners sharing profits in the ratio of 3 : 2 : 1 : 4. Kumar retires and his share is acquired by Lakshya and Manoj in the ratio of 3 : 2. Calculate new profit-sharing ratio and gaining ratio of the remaining partners.

Answer 1

Kumar's Share = `3/10 "(acquired by Lakshya and Manoj in 3 : 2)"`

Share Acquired by Lakshya = `3/10 xx 3/5 = 9/50`

Share Aquired by Manoj = `3/10 xx 2/5 = 6/50`

Lakshya's New Share = `2/10 + 9/50 = 19/50`

Manoj's New Share = `1/10 + 6/50 = 11/50`

Naresh's Share (as retained) = `4/10 or 20/50`

New Profit Sharing Ratio = `19 : 11 : 20`

Gaining Ratio = 3:2 (as given in the question)