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Answer:

QuesTion :

- X and Y sharing profits in the ratio of 5:3. They admit Z as a new partner. Z brings Rs 70,000 as cash and Rs 43,000 against his premium for goodwill. New profit sharing ratio between X, Y and Zs 7:5: 4. The Sacrificing ratio of X and Y: (a) 3:1 (2) 5:9 (c) 1:3 (d) 4:5

AnswEr :

- Sacrificing ratio of X and Y = Option (a) 3:1.

Step-by-step ExplanaTion :

GivEn :

- Old profit sharing ratio of partners = 5:3
- New profit sharing ratio of partners = 7:5:4

To FinD :

- Sacrificing ratio of X and Y?

Formula UseD :

SoluTion :

- Sacrificing ratio of X

We have,

- Old share of X = 5/8
- New share of X = 7/16

Putting all values in formula,

- Sacrificing ratio of Y

We have,

- Old share of Y = 3/8
- New share of Y = 5/16

Putting all values in formula,

- Sacrificing ratio of X and Y

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SimilaR QuesTion :

- Calculate the New Ratio. Crow and Swan are partners sharing profits in the ratio of 5:3. Peacock joins the firm as a new partner, Crow gives 1/4th of his share and Swan gives 2/5th of his share to the new partner.

AnswEr :

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