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A and B are partners sharing profits and losses in the proportion of 7 : 5 . They agree to admit C,

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A and B are partners sharing profits and losses in the proportion of 7 : 5 . They agree to admit C, their manager, into partnership who is to get 1/6th share in the profits. He acquires this share as 1/24th from A and 1/8th from B. Calculate new profit-sharing ratio.

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Old Ratio between A and B IS 7 : 5

C enters for 1/6 share of profit 

New Ratio = Old Ratio - sacrificing Ratio

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