A and B were partners in a firm sharing profits and losses in the ratio of 2 : 1. With effect from 1st April, 2019 they agreed to share profits and losses equally. Calculate the individual partner's gain or sacrifice due to change in ratio.

Explanation

Old Ratio of A and B = 2 : 1
New Ratio of A and B = 1 : 1
Sacrifice or gain :
`A=(2)/(3)-(1)/(2)=(4-3)/(6)=(1)/(6)`(Sacrifice)
`B=(1)/(3)-(1)/(2)=(2-3)/(6)=(1)/(6)`(Gain)
A has sacrificed `(1)/(6)`th share wheras B has gained `(1)/(6)`th share.