Question

Q-4. Raj and Seema started a partnership firm on!st July 2018. They agreed that
seema was entitled to a commission of 10% of the net profit after charging Raj's salary
of Rs. 2500 per quarter and Seema's commission
The net profit before charging Raj's salary and seema's commission for the year ended
31 st March 2019 was Rs. 2,27,500. Calculate Seema's commission,​

Answer 1

Given:

Commission of Seema = 10%

Raj's salary = 2500 per quarter

Net profit = 2,27,500

To Find:

Seema's Commission

Solution:

Net Profit before salary and commission = Rs 2,27,500

Raj’s salary =  Rs. 2,500 x 3 = Rs. 7,500

Net profit after Raj’s salary but before Seema’s commission

= 2,27,500 - 7,500

= ₹2,20,000

Commission to be paid = 10%

= 10/110 × 2,20,000

= 20,000

Answer: Seema's commission is Rs. 20,000