Question

Shiv, Mohan and Gopal are partners sharing profits and losses in the ratio of 2:2: 1. Shiv is entitled to a
commission of 10% on the net profit. Net profit for the year is 1,10,000.
Determine the amount of commission payable to Shiv. [Ans.: Commission Payable to Shiv-11,000.]​

Answer 1

Given : Shiv, Mohan and Gopal are partners sharing profits and losses in the ratio of 2:2: 1.

Shiv is entitled to a commission of 10% on the net profit.

Net profit for the year is 1,10,000.

To Find : The amount of commission payable to Shiv.

Solution:

Shiv is entitled to a commission of 10% on the net profit.

amount of commission payable to Shiv.  = (10/100) * net profit.

= net profit.  / 10

Net profit for the year is 1,10,000.

=> amount of commission payable to Shiv.  =110000/10

=11000

amount of commission payable to Shiv. is 11000

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Answer 2

Explanation:

This problem is related to simple ratio distribution problems. We are given the ratio of all the three partners. Net profit for the year is 1,10,000.

Now it is given that Shiv is entitled to a  commission of 10% on the net profit.

Hence the amount of commission for Shiv would be = 10/100 x 110000

Amount of commission for Shiv = 11000