Question

Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta

was manager who received the salary of ₹4,000 p.m. in addition to a commission of

5% on net profits after charging such commission. Profit for the year is ₹6,78,000

before charging salary. Find the total remuneration of Meeta.​

Answer 1

Answer:

Total remuneration of Meeta = Rs 78,000

Explanation:

Given :

Seeta and Geeta are partners sharing profits and losses in the ratio = 4 : 1

Meena received the salary as = Rs. 4,000 p.m.

Commission = 5% Profit

Profit of the year = Rs. 6,78,000

To find :

The total remuneration of Meeta

Solution :

Meeta's salary = 4,000 × 12

⇒ 48,000

Meeta's share : (net profit - salary) × rate / 100 + rate

⇒ (6,78,000 - 48,000) × 5 / (100 + 5)

⇒ 6,30,000 × 5 / 105

⇒ 30,000

Remuneration = Salary + Commission

⇒ 48,000 + 30,000

⇒ 78,000

Therefore,

Total remuneration of Meeta = Rs 78,000