Question

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32. Abha, Bobby and Vineet are partners sharing profits and losses equally. As per Partnership Deed, Vineet is
entitled to a commission of 10% on the net profit after charging such commission. The net profit before
charging commission is 2,20,000.
Determine the amount of commission payable to Vineet. [Ans.: Commission Payable to Vineet-20,000.)​

Answer 1

Answer:

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Answer 2

Answer:

Explanation:

Net Profit before charging Commission = ` 2,20,000

Commission to Vineet = 10% of on Net Profit after charging commission

Commission =  (Net profit×Rate of commission) / (100+Rate of commission)

Vineet's Commission =(2,20,000×10) / (100+10) = 20,000