z is a manager in a partnership firm and is entitled to receive a salary of Rs/ 8000 per month and a commission of 5% on net profit after charging such commission . profit for the year is 1356000 before charging salary and commission . the total remuneration of z is?
Answers
Rs. 1,56,000
Total remuneration = Salary + commission
= (RS-8,000 x 12) + RS-60,000(WN 1)
= RS-1,56,000.
Working notes:-
Net profit for commission = 13,56,000 - (8,000 x 12)
= RS-12,60,000.
Commission after charging such commission
= 12,60,000 x 5/105
= RS-60,000.
Given,
Salary of z = ₹8000 per month
Commission on net profit = 5%
Profit for the year= ₹13,56,000
To find,
The total remuneration of z
Solution,
We can simply solve this numerical problem by using the following process.
As we know,
∴ Total remuneration = Salary + Commission
Now,
Net profit for commission = 13,56,000 - (8,000 x 12)
= ₹ 12,60,000.
Commission after charging such commission = 12,60,000 x
= ₹63,000
Thus,
Total remuneration = Salary + Commission
= ₹(8000*12) + ₹63,000
= ₹1,59,000
As a result, the total remuneration is ₹1,59,000.