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X, Y and Z are partners sharing profits in the ratio of 4/9, 1/3 and 2/9. X retires and surrenders 2/3rd of his share in favour of Y and remaining in favour of Z. Calculate new profit sharing ratio and gaining ratio.

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New Profit Sharing Ratio : 17/27 : 10/27 or 17:10 Gaining Ratio: Gaining Ratio = New Ratio – Existing Ratio 2:1
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