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:

• A. 3 : 2
• B. 1 : 1
• C. 2 : 3
• D.

Hint:

To determine the sacrificing ratio, allocate the share of profit given up by each partner based on their existing share and the new partner’s share.

Answer 1

The Correct Option is C

Krish receives \( \frac{1}{5} \) of the profit. Geeta and Hari surrender their shares to Krish in a 2:3 ratio. Specifically, Geeta sacrifices \( \frac{2}{5} \) of her share, amounting to \( \frac{2}{25} \) of the total profit, and Hari sacrifices \( \frac{3}{5} \) of his share, amounting to \( \frac{3}{25} \) of the total profit. The ratio of sacrifices between Geeta and Hari is thus \( 2 : 3 \).