Ram and Shyam are partners in the ratio of 3:2. Before profit distribution,Ram is entitled to 5%commission of net profit (after charging such commisssion). Before charging commission, firm's profit was Rs.42000. Shyam's share in profit will be.
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Ratio of Ram and Shyam = 3 : 2
Ram : Shyam = 3 : 2
Ram's share = 3/5
Shyam's share = 2/5
Before profit distribution,
Ram's Commission = 5% of of the net profit (after charging such commission)
firm’s profit = Rs. 42,000
Ram's Commission = Net profit before commission × (Rate/100 + Rate)
= 42,000 × (5/(100 + 5))
= 42,000 × (5/105)
= 2,000
Ram's Commission = Rs. 2,000
= 42,000 - 2,000
= Rs. 40,000
Shyam's share = 2/5
= 40,000 × (2/5)
= 16,000
Shyam's share = Rs. 16,000
Hence, Shyam’s share in profit will be Rs. 16,000.
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