(Old Partners sacrifice Fraction of their Shares in Favour of New Partner). A and B are par
Channel: Doubtnut
Date: 2020-03-29

(Old Partners sacrifice Fraction of their Shares in Favour of New Partner). A and B are partners in a firm sharing profits and losses in the ration of 5 : 3. A surrenders 1/20th of this share, whereas B surrenders 1/24th of his share in favour of C, a new partner. Calculate new profit-sharing ration and the sacrificing ratio.