Question

1. Sirya and Riya are partners sharing profits and losses in the ratio 4 : 1. Mariya was
manager who received the salary of ` 4,000 p.m. in addition to a commission of 5% on net
profits after charging such salary and commission. Profit for the year is ` 6,78,000 before charging
salary.
Find the total remuneration of Mariya.
(A) ` 78,000
(B) ` 88,000
(C) ` 87,000
(D) ` 75,000

Answer 1

Answer:

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Answer 2

Given:

• Sirya and Riya are partners in a firm, sharing profits and losses in the ratio 4:1.
• Mariya was the manager, who received a salary of Rs 4,000 per month, in addition to a commission of 5% on net profits after charging such commission.
• Profit for the year was Rs 6,78,000 before charging the salary.

To find: The total remuneration of Mariya.  

Answer:

Profit for charging commission = Net profit for the year - Total salary

Profit for charging commission = Rs 6,78,000 - (Rs 4000 × 12)

Profit for charging commission = Rs 6,78,000 - Rs 48,000

Profit for charging commission = Rs 6,30,000

Commission [after charging such commission] = (Profit × Rate) ÷ (100 + Rate)

Commission = (Rs 6,30,000 × 5) ÷ 105

Commission = Rs 30,000

Total remuneration = Total salary + Commission

Total remuneration = (Rs 4,000 × 12) + Rs 30,000

Total remuneration = Rs 48,000 + Rs 30,000

Total remuneration = Rs 78,000

Therefore, the total remuneration for Mariya is (A) Rs 78,000.