Multiple Choice Questions on Seeta and Geeta are partners sharing profits and losses in the ratio 4 1 Meeta was manager who recei........... for Commerce 12th Preparation

Back to Main Page

Multiple Choice Questions

Seeta and Geeta are partners sharing profits and losses in the ratio 4 1 Meeta was manager who recei...........

    Download Solution PDF

    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.

    78,000

    Correct Answer

    88,000

    Incorrect Answer

    87,000

    Incorrect Answer

    76,000

    Incorrect Answer
    छोटे Courses बड़े Results
    Master
    Prepare through Micro-courses
    Try Now
    Explanation:

    - Meeta's annual salary is calculated: ?4,000 per month x 12 months = ?48,000.

    - Her commission is 5% on net profit after charging her commission.

    - Let commission be "C."

    - Total profit available for distribution is ?6,78,000 - ?48,000 (Meeta's salary) = ?6,30,000.

    - Using the formula for commission: C = 5% of (?6,30,000 - C).

    - Solving, C = 0.05 × (?6,30,000 - C) gives us C = ?30,000.

    So, Meeta's total remuneration = Salary + Commission = ?48,000 + ?30,000 = ?78,000.

    - Option 1: 78,000 is correct.

    By: santosh
    ProfileResources

    Let's Discuss

    Master
    With abhipedia
    Micro Courses
    Try Now
    What our students have to say
    Review on us
    Download Abhipedia Android App

    Access to prime resources

    Downlod from playstore
    download android app download android app for free