Question

A, B and Care partners in a firm sharing their profits in the ratio of 2:2:1.
A withdrew 10,000 at the beginning of each month, B withdrew 730,000
at the end of each quarter and C withdrew *50,000 at the beginning of
each half year.
Partner B was entitled to 2% commission on sales which was 10 lakh.
Partner Cwas also allowed commission @10% on the distributable profit.
Interest on drawing is charged at 10% p.a. while net profit of firm for the
year ending 31st March, 2021 was 2,38,500.
What is commission of C?

Answer 1

Answer:

Commission of c is Rs. 4520

Explanation:

After dividing profits of 238500 in the ratio of 2:2:1, we get

C

47700

Less: interest on

drawings of c. (50000 x 10% x 6/12) 2500

so, the profit of c is 45200

then Commision of c is 45200 x 10% = 4520