Question

31. Ramesh and Suresh are partners in the ratio of 3: 2. Before profit distribution, 'Ramesh is entitled to 5% commission of the net profit (after charging such commission). Before charging commission, firm's profit was 84,000. Suresh's share in profit will be: (A) 32,000 (B) 48,000 (C) 56,000 (D) 32,800 ​

Answer 1

Answer:

A = 32000

Explanation:

Net profit = 84000

commission of Ramesh = 4000 (84000 x 5/105)

Divisual profit = 80,000

hence, 80,000 x 2/5 = 32,000

Answer 2

Explanation:

Solution :

Ramesh and Suresh are partners in the ratio of 3: 2.

Ramesh : Suresh = 3 : 2

• Ramesh's share = 3/5
• Suresh's share = 2/5

Ramesh is entitled to 5% commission of the net profit (after charging such commission).

Before charging commission, firm's profit was 84,000.

Ramesh's Commission = Net profit before commission × (Rate/100 + Rate)

84,000 × (5/(100 + 5))

84,000 × (5/105)

4,000

Commission = 4,000

84,000 - 4,000

80,000

Suresh's share in profit = 2/5

80,000 × (2/5)

32,000 

Suresh's share in profit = 32,000

Therefore, Option (A) 32,000

Suresh's share in profit will be 32,000