X and Y are two partner sharning profits and losses equally X has to get a comission of 10% of net profit before charging any comission and B has to get a commission of 10% of net profit after charging all commission . Net profit for the year ended 31st,march 2016 before charging any commission was rs 220000. show distribution of profit.
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Explanation:
Net Profit before charging commission= 220000
Rate of commission= 10% of net profit after charging such commission
B's commission= [Rate/(100+Rate)]* Net profit
= [10/(100+10)] * 220000
= 20000
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Explanation:
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