12th Class Accountancy Admission of a Partner Question Bank MCQs - Reconstitution Of a Partnership Firm : Admission of a Partner

A and B are partners sharing profit or loss in the ratio of 3 : 2. C is admitted into partnership as a new partner. A sacrifices l/3rd of his share. B sacrifices l/4th of his share in favour of C What will be the C's share in the firm?

A) \[\frac{1}{5}\]

B) \[\frac{2}{10}\]

C) \[\frac{3}{10}\]

D) None of these

Correct Answer: C

Solution :

[c] \[\frac{3}{10}\]

Hint: A sacrifice = \[\frac{3}{5}\times \frac{1}{3}=\frac{3}{15}\]

B sacrifice =\[\frac{2}{5}\times \frac{1}{4}=\frac{2}{20}\]

C's share = \[\frac{3}{15}+\frac{2}{20}=\frac{12+6}{60}=\frac{18}{60}=\frac{3}{10}\]