A and B are partners sharing profits and losses in the ratio of 3:2. C is admitted for 1/5 share in profits which he gets from A. New profit sharing ratio will be:
A. 12:8:5
B. 8:12:5
C. 2:2:1
D. 2:2:2
Answer:C
A and B are partners sharing profits and losses in the ratio of 3:2. C is admitted for 1/5 share in profits which he gets from A. New profit sharing ratio will be:
A. 12:8:5 B. 8:12:5 C. 2:2:1 D. 2:2:2