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Question
Mita, Veena and Atul were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Atul retired and his share was taken over by Mita and Veena in the ratio of 1 : 4. The new profit sharing ratio between Mita and Veena after Atul’s retirement will be ______.
Options
3 : 2
8 : 7
7 : 3
2 : 3
MCQ
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Solution
Mita, Veena and Atul were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Atul retired and his share was taken over by Mita and Veena in the ratio of 1 : 4. The new profit sharing ratio between Mita and Veena after Atul’s retirement will be 8 : 7.
Explanation:
`1/6xx1/5=1/30` M’s gain
`1/6xx4/5=4/30` V’s gain
M’s new share = `3/6+1/30=16/30`
V’s new share = `2/6+4/30=14/30`
16 : 14 = 8 : 7
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