Dharam and Karan were partners in a firm sharing profits and losses in the ratio of 7:3. On 1st April, 2025, they admitted Vinod as a new partner in the firm. Dharam surrendered 1/3rd of his share in favour of Vinod and Karan surrendered 1/4th of his share in favour of Vinod. The new profit sharing ratio will be:
Dharam and Karan were partners in a firm sharing profits and losses in the ratio of 7:3. On 1st April, 2025, they admitted Vinod as a new partner in the firm. Dharam surrendered 1/3rd of his share in favour of Vinod and Karan surrendered 1/4th of his share in favour of Vinod. The new profit sharing ratio will be:
Show Hint
- 7:3:1
- 56:27:10
- 27:56:10
- 56:27:37
The Correct Option is D
Solution and Explanation
Dharam and Karan share 7:3, so Dharam has 7/10 and Karan has 3/10.
Step 2: Share given to Vinod:
Dharam gives 1/3 of 7/10 = 7/30. Karan gives 1/4 of 3/10 = 3/40.
Share of Vinod = 7/30 + 3/40 = 28/120 + 9/120 = 37/120.
Step 3: New shares of Dharam and Karan:
Dharam keeps 7/10 - 7/30 = 14/30 = 56/120. (Also 2/3 x 7/10 = 7/15 = 56/120.)
Karan keeps 3/10 - 3/40 = 27/120. (Also 3/4 x 3/10 = 9/40 = 27/120.)
Step 4: New ratio:
Dharam : Karan : Vinod = 56 : 27 : 37. The total is 120, so the ratio is complete.
Step 5: Why the other options are wrong:
Option (A) 7:3:1 only adds 1 for Vinod without taking the shares from Dharam and Karan.
Option (B) 56:27:10 has the correct shares of the old partners but a wrong share for Vinod. The total 93 does not match 120.
Option (C) 27:56:10 swaps the shares of Dharam and Karan and also has the wrong share for Vinod.
Final Answer:
The new profit sharing ratio is 56 : 27 : 37, option (D).
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