Question

17. Amit and Rohit are partners sharing profit in the ratio of 1:2. Kaveri was the manager who received the salary of 12,000 p.m. in addition to commission of 10% on net profit after charging suchcommission. Total remuneration to Kaveri amounted to 2,04,000. Profit for the year before charging salary and commission was:(a) 8,20,000(c) 6,60,000(b) 7,80,000(d) 8,04,000​

Answer 1

Step-by-step explanation:

Given Amit and Rohit are partners sharing profit in the ratio of 1:2. Kaveri was the manager who received the salary of 12,000 p.m. in addition to commission of 10% on net profit after charging such commission. Total remuneration to Kaveri amounted to 2,04,000. Profit for the year before charging salary and commission was

• Amit and Rohit are partners sharing profit, also Kaveri is the manager
• Now total remuneration or commission of Kaveri will be                               2,04,000 – 1,44,000 (12,000 x 12)
•       = 60,000
• Manager commission after charging will be = Net profit x R / 100 + R
•                           So Net Profit = 60,000 x 110 / 10
•                                                  = 66,00,000 / 10
•                                                  = 6,60,000

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