Sule and Ahmed are in partnership sharing profit and losses equally. If Khadija is admitted...

JAMB 2018

Sule and Ahmed are in partnership sharing profit and losses equally. If Khadija is admitted as a new partner to take 1/5 th as her share. What is the new profit or loss sharing?

A. Sule1/3, Ahmed1/3, Khadija 1/3
B. Sule1/3, Ahmed1/3, Khadija 1/3
C. Sule1/5, Ahmed1/5, Khadija3/5
D. Sule2/5, Ahmed1/5, Khadija2/5

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Correct Answer: Option B

Explanation

If Khadija is to take 1/5th i.e. 20%

Sule and Ahmed are to share 80% (100% - 20%) equally

Sule = 2/5

Ahmed = 2/5

Khadija = 1/5

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Sule and Ahmed are in partnership sharing profit and losses equally. If Khadija is admitted...

Correct Answer: Option B

Explanation

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