Accountancy, asked by baruashruti2020, 23 hours ago

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.

Answers

Answered by roshinisk
5

Explanation:

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Answered by Darvince
3

Explanation:

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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