Question

Select the most appropriate answer from the alternative given below and rewrite the sentence.

Jay, Vijay and Ajay are three partners sharing profits in 3:2:1. They decided to admit Sanjay and give him `1/7`th share, new profit sharing ratio of partners will be _________________.

Options

• equal

•  3:2:1:2

• 3:2:1:1

• 2:3:1:2

Answer 1

Jay, Vijay and Ajay are three partners sharing profits in 3:2:1. They decided to admit Sanjay and give him 1/7th share, new profit sharing ratio of partners will be 3:2:1:1.

Explanation: It is calculated as follows:-
Let the total share be 1.

Sanjay's share = `1/7`

Remaining share = `1-1/7=6/7`

Jay's share =`6/7 xx 3/6 =3/7`

Vijay's share =`6/7xx 2/6=2/7 `

Ajay's share =`6/7 xx 1/6 = 1/7`

New profit sharing ration of Jay , Vijay , Ajay and Sanjay = `3/7 : 2/7 : 1/7 : 1/7` or 3 : 2 : 1 : 1 .