11 :- P, Q and R are partners sharing profits in the ratio of 7:5:3. P retires and it is decided that profit-sharing ratio between Q and R will be same as existing between P and Q. Calculate new profit-sharing ratio and gaining ratio.
Solution:-
Old ratio = 7:5:3
P retires and New PSR of Q and R remains same as existing ratio between P and Q
Thus, new profit sharing ratio of Q and R is 7:5
Calculation of gaining ratio of Q and R
New ratio – old ratio
Q = 7/12 – 5/15 = 35 – 20/60 = 15/60
R = 5/12 – 3/15 = 25 – 12/60 = 13/60
Therefore, gaining ratio of Q and R is 15:13