X and Y are partners sharing profits in 5:3 ratio admitted Z for 1/10 share which he acquired equally for X and Y. Calculate new profit sharing ratio?

X and Y are partners sharing profits in 5:3 ratio admitted Z for 1/10

1.	X and Y are partners sharing profits in 5:3 ratio admitted Z for 1/10 share which he acquired equally for X and Y. Calculate new profit sharing ratio?
Answer» The new PROFIT-sharing ratio is 21 : 11 : 4. EXPLANATION:Given data: X and Y are partners sharing profits in the ratio of 5:3. They admitted Z for a 1/10 of share which he ACQUIRED from X and Y. To find: New profit-sharing ratio Old profit share of X = 5/8 Old profit share of Y = 3/8 Now, after Z joined Z’s share of profit = 1/10 New profit share of X = 5/8 – 1/10 = (50 – 8) / (8 * 10) = 42 / 80 New profit share of Y = 3/8 – 1/10 = (30 - 8) / (8 * 10) = 22 / 80 ∴ The new profit sharing ratio between X, Y & Z = 42/80 : 22/80 : 1/10 = 42 : 22 : 8 …. [MULTIPLYING by 10 throughout] = 21 : 11 : 4 ….. [dividing by 2 throughout]

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X and Y are partners sharing profits in 5:3 ratio admitted Z for 1/10 share which he acquired equally for X and Y. Calculate new profit sharing ratio?​

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X and Y are partners sharing profits in 5:3 ratio admitted Z for 1/10 share which he acquired equally for X and Y. Calculate new profit sharing ratio?