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Question
Apurva and Archita are partners. Namita was a manager who received a salary of ₹ 1,10,000 per year in addition to a commission of 10% on net profits before charging such commission. Profit for the year is ₹ 4,40,000 after charging salary. Namita’s commission will be ______.
Options
₹ 50,000
₹ 55,000
₹ 40,000
₹ 44,000
MCQ
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Solution
Apurva and Archita are partners. Namita was a manager who received a salary of ₹ 1,10,000 per year in addition to a commission of 10% on net profits before charging such commission. Profit for the year is ₹ 4,40,000 after charging salary. Namita’s commission will be ₹ 44,000.
Explanation:
Namita’s commission is 10% of the net profit before charging her commission.
Commission = Net Profit × Rate of Commission
= `4,40,000 xx 10/100`
= ₹ 44,000
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