Question : Ram, Hari and Chandan share the profits and losses of the firm equally. Hari retires from business and his share is purchased by Ram and Chandan in the ratio of 2: 3. New profit sharing ratio between Ram and Chandan respectively would be :
Option 1: 1:1
Option 2: 2:2
Option 3: 7:8
Option 4: 3:5
Correct Answer: 7:8
Solution : Answer = 7:8 Ram= $\frac{1}{3}$ Hari= $\frac{1}{3}$ Chandan= $\frac{1}{3}$ Ram takes= $\frac{1}{3} \times \frac{2}{5}=\frac{2}{15}$ Chandan takes= $\frac{1}{3} \times \frac{3}{5}=\frac{3}{15}$ New profit sharing ratio Ram= $\frac{1}{3}+\frac{2}{15}=\frac{5+2}{15}=\frac{7}{15}$ Chandan= $\frac{1}{3}+\frac{3}{15}=\frac{5+3}{15}=\frac{8}{15}$ N.P.S.R= 7:8 Gaining ratio= 2:3 Hence, the correct option is 3.
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