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 such commission. Total remuneration to Kaveri amounted to 2,04,000. Profit for the year before charging salary and commission was: (a) 8,20,000 (b) *7,80,000 S (c) 6,60,000 (d) 8,04,000
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Question
X and Y are partners sharing profits and losses in the ratio 4:1. Z was manager who received the salary of Rs.8,000 p.m. in addition to a commission of 5% on net profits after charging such commission. Profits for the year is Rs. 13,56,000 before charging salary. Find the total remuneration of Z?
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Solution
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Correct option is
A
Rs. 1,56,000
Total remuneration = Salary + commission
= (RS-8,000 x 12) + RS-60,000(WN 1)
= RS-1,56,000.
Working notes:-
Net profit for commission = 13,56,000 - (8,000 x 12)
= RS-12,60,000.
Commission after charging such commission
= 12,60,000 x 5/105
= RS-60,000.
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.
To Find : Profit for the year before charging salary and commission was:
(a) 8,20,000 (b) 7,80,000 S (c) 6,60,000 (d) 8,04,000
Solution:
Salary per month = 12000 Rs
Salary in a year = 12 * 12000 = 144000 Rs
Total remuneration to Kaveri amounted to 2,04,000.
=> Commission = 204000 - 144000 = 60000 Rs
Net profit after salary and commission = x
Commission = (10/100)x = 0.1x
0.1x = 60000
=> x = 600000 Rs
Profit for the year before charging salary and commission was:
= 600000 + 204000
= 804000
Correct option is d) 804000
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