A, B and C were partners in a firm sharing profits in the ratio of 3 : 2 : 1. They admited D as a new partner for 1/8th share in the profits, which he acquired 1/16th from B and 1/16th from C. Calculate the new profit-sharing ratio of A, B, C and D.
The reduced part of the profit-sharing ratio of the old partners is know as Sacrificing Ratio. It is important to determine the sacrificing ratio because of the reason that the...
interest payable to A -Rs. A-Rs. `xx`3/5`xx`6/10 `xx`6/12=Rs. 540,
interest payable to B-Rs. 30,000`xx`2/5`xx`6/10 =Rs. 360.
Hint :- According to the partnership Act 1932 interest @6% p.a payable on the...