Question:
Geeta and Hari were partners in a firm sharing profits and losses in the ratio of 3 : 2. Krish was admitted as a new partner for \( \frac{1}{5} \) share in profits of the firm which he acquired from Geeta and Hari in the ratio of 2 : 3. Krish brought ₹ 1,00,000 as his share of capital and ₹ 50,000 as premium for goodwill in cash. The sacrificing ratio of Geeta and Hari will be:
Geeta and Hari were partners in a firm sharing profits and losses in the ratio of 3 : 2. Krish was admitted as a new partner for \( \frac{1}{5} \) share in profits of the firm which he acquired from Geeta and Hari in the ratio of 2 : 3. Krish brought ₹ 1,00,000 as his share of capital and ₹ 50,000 as premium for goodwill in cash. The sacrificing ratio of Geeta and Hari will be:
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The sacrificing ratio indicates the portion of their share in profits that each partner gives up to accommodate the new partner.
Updated On: Jan 18, 2025
- 3 : 2
- 1 : 1
- 2 : 3
- 13 : 7
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The Correct Option is C
Solution and Explanation
To calculate the sacrificing ratio, we first need to determine the amount of profit each partner sacrificed for Krish. The total share acquired by Krish is \( \frac{1}{5} \), which is taken from the existing partners Geeta and Hari. Hence, the sacrificing ratio of Geeta and Hari will be in the ratio of their original shares, i.e., 2 : 3.
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