Question

Murli, Naveen and Omprakash are partners sharing profits in the ratio of `(3)/(8), (1)/(2)` and `(1)/(8)`. Murli retires and surrenders 2/3rd of his share in favour of Naveen and the remaining share in favour of Omprakash. Calculate new profit sharing and the gaining ratio of the remaining partners.

Answer 1

`{:(,,"Naveen","Omprakash"),((i),"Old Share",(1)/(2),(1)/(8)),((ii),"Share Acquired by Naveen and",,),(,"Omprakash from Murli",=(2)/(8)"of"(3)/(8)=(2)/(8),(1)/(3)"of"(3)/(8)=(1)/(8)),((iii),"New Share=(i) + (ii)",=(1)/(2)+(2)/(8),(1)/(3)+(1)/(8)),(,,=(6)/(8)"or"(3)/(4),=(2)/(8)"or"(1)/(4)):}`
Thus, the New profit sharing Ratio = `(3)/(4):(1)/(4)` or `3:1`, and the
Gaining Ratio = `(2)/(8):(1)/(8)` or `2:1` [as calculated in (ii)].