X, Y and Z are partners in a firm sharing profits in the ratio of 3 : 2 : 1. They admitted A as a new partner for 1/8th share in the profits, which he took 1/16th from Y and 1/16th from Z. Determine the new profit sharing ratio of X, Y, Z and A.
Solution :
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I am a M. Com Gold Medalist from Osmania University in 1999. And a UGC NET Qualified in June 1999.
My passion and interest are in the areas of Accountancy & Financial Management. Over the last ~20 years, I have been teaching students (predominantly in Class XI, XII – All Boards and B. Com Students across Universities.