Question : X and Y are partners with capitals of Rs 3,00,000 and 2,50,000, respectively. They are entitled to interest on capital @ 6% p.a. The Firm earned a profit of Rs 55,000 after charging interest on capital. If the manager is entitled to 10% of net profit before charging his commission, the manager's commission will be
Option 1: Rs 3,200
Option 2: Rs 5,500
Option 3: Rs 4,000
Option 4: Rs 8,800
Correct Answer: Rs 8,800
Solution : Answer = Rs 8,800
M.commission=$88000 \times \frac{10}{100}$=8,800. Hence, the correct option is 4.
Question : X and Y are partners with capitals of Rs 3,00,000 and 2,50,000, respectively. They are entitled to interest on capital @ 6% p.a. The Firm earned a profit of Rs 55,000 after charging interest on capital. If the manager is entitled to 10% of net profit before charging his
Question : X and Y are partners with capitals of Rs 3,00,000 and 2,50,000, respectively. They are entitled to interest on capital @ 6% p.a. The Firm earned a profit of Rs 55,000 after charging interest on capital. If the manager is entitled to 10% of net profit after charging his
Question : A and B are equal partners with capitals of Rs.2,00,000 and Rs.1,00,000 respectively. As per deed, they are allowed an interest @ 8% p.a. on capital. During the year, the firm earned a profit of Rs.12,000. Interest on capital allowed to A and B will be:
Question : X and Y are Partners in a Ratio of 3:2. Their capitals are Rs. 2,00,000 and Rs. 1,00,000, respectively. Interest on capital is allowed @8% p.a. The firm earned a profit of Rs. 60,000 for the year ended March 31st, 2019. Interest on capital will be
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