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P, Q and R are partners sharing profits in the ratio of 7 : 5 : 3. P retires and it is decided that profit-sharing ratio between Q and R will be same as existing between P and Q. Calculate New profit-sharing ratio and Gaining Ratio. |
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Answer» fit-SHARING ratio and Gaining Ratio are calculated below:Explanation:GIVEN,P, Q and R are partners who are sharing profits in the ratio of 7 : 5 : 3. P: Q: R=7: 5: 3 (Old Ratio)After P's retirement, it is decided that profit-sharing ratio between Q and R will be same as existing between P and Q. Q : R =7: 5 (New Ratio) Calculation of Gaining Ratio:Calculation of Gaining Ratio is DONE using the below formulaGaining Ratio = New Ratio - Old Ratio New Ganing Ratio (Q and R) = 15:13Thus, the New profit-sharing ratio and Gaining Ratio will be 15 : 13 |
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