Multiple Choice Questions on A and B are partners sharing profit or loss in the ratio of 4 1 A surrenders 1 4 of his share and B ........... for UPSC EPFO Exam Preparation

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Multiple Choice Questions

A and B are partners sharing profit or loss in the ratio of 4 1 A surrenders 1 4 of his share and B ...........

General Accounting Principles Partnership
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    A and B are partners sharing profit or loss in the ratio of 4 : 1. A surrenders 1/4 of his share and B surrenders 1/2 of his share in favour of C, a new partner. What will be the C’s share?

    3/4

    Incorrect Answer

    1/5

    Incorrect Answer

    1/10

    Incorrect Answer

    3/10

    Correct Answer
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    Explanation:

    A's share of profits= 4/5

    Share sacrificed by A = 1/4 * 4/5=1/5

    Share sacrificed byB= 1/2×1/5= 1/10

    Hence Sacrificing ratio= 1/5: 1/10=2:1

    C's share= 1/5+1/10 =3/10

    A's new share =4/5- 1/5= 3/5

    B's new share =1/5–1/10= 1/10

    New Ratio =3/5 :1/10:3/10= 6:1:3

    By: SWAPNIL AGGARWAL
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