X, Y, Z are partners sharing profit & losses equally Y retires from the firm X & Z agree to carry on the business with a profit sharing ratio of 7:5 locate the gaining ratio.
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Answer:
Correct option is D)=only y grains by 1/3
Old ratio (X, Y, and Z) = 1 : 1 : 1
New ratio (X and Z) = 1 : 2
Gaining ratio = New ratio - Old ratio
X's gain = (1/3) - (1/3) = Nil
Y's gain = (2/3) - (1/3) = 1/3
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Answer:
Y gains by 1/3
Explanation:
Old ratio (X, Y, and Z) = 1 : 1 : 1
New ratio (X and Z) = 1 : 2
Gaining ratio = New ratio - Old ratio
X's gain = (1/3) - (1/3) = Nil
Y's gain = (2/3) - (1/3) = 1/3
Therefore, only Y gains by 1/3
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