Class 12 Exam > Class 12 Questions > Seeta and Geeta are partners sharing profits ...
Start Learning for Free
Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.
- a)₹78,000
- b)₹88,000
- c)₹87,000
- d)₹76,000
Correct answer is option 'A'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
Seeta and Geeta are partners sharing profits and losses in the ratio 4...
Meeta's Salary = ₹4,000 × 12 = ₹48,000
Additional commission =(₹6,78,000 – ₹48,000) × 5/105 = ₹ 30,000
Meeta total remuneration = ₹ 48,000 + ₹ 30,000
= ₹ 78,000
Additional commission =(₹6,78,000 – ₹48,000) × 5/105 = ₹ 30,000
Meeta total remuneration = ₹ 48,000 + ₹ 30,000
= ₹ 78,000
Most Upvoted Answer
Seeta and Geeta are partners sharing profits and losses in the ratio 4...
Given:
- Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1.
- Meeta was the manager who received a salary of 4,000 p.m.
- Meeta received a commission of 5% on net profits after charging such commission.
- Profit for the year is 6,78,000 before charging salary.
To find: Total remuneration of Meeta
Solution:
1. Calculation of Net Profit after charging the salary of Meeta:
- Meeta's salary for the year = 4,000 x 12 = 48,000
- Total Profit for the year = 6,78,000
- Salary of Meeta charged to the partnership = 48,000
- Remaining Profit = 6,78,000 - 48,000 = 6,30,000
2. Calculation of Commission of Meeta:
- Commission of Meeta on remaining profit = 5% of 6,30,000 = 31,500
3. Calculation of Total Remuneration of Meeta:
- Total Remuneration of Meeta = Salary + Commission = 48,000 + 31,500 = 79,500
- But the question is asking for total remuneration, including the salary and commission, charged to the partnership.
- So, the remuneration charged to the partnership would be 79,500 - 4,000 (salary charged to the partnership) = 75,500
4. Calculation of Share of Seeta and Geeta:
- Total profit available for distribution = 6,30,000 (profit after charging Meeta's salary)
- Seeta's share = 6,30,000 x 4/5 = 5,04,000
- Geeta's share = 6,30,000 x 1/5 = 1,26,000
5. Final Calculation:
- Total remuneration charged to the partnership = Meeta's salary + Meeta's commission = 4,000 + 75,500 = 79,500
- Seeta's share = 5,04,000
- Geeta's share = 1,26,000
- Total Profit distributed = 5,04,000 + 1,26,000 = 6,30,000
- Remaining Profit = 6,78,000 - 6,30,000 = 48,000 (which is Meeta's salary)
Therefore, the total remuneration of Meeta charged to the partnership is 79,500 - 4,000 = 75,500. The correct option is A.
- Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1.
- Meeta was the manager who received a salary of 4,000 p.m.
- Meeta received a commission of 5% on net profits after charging such commission.
- Profit for the year is 6,78,000 before charging salary.
To find: Total remuneration of Meeta
Solution:
1. Calculation of Net Profit after charging the salary of Meeta:
- Meeta's salary for the year = 4,000 x 12 = 48,000
- Total Profit for the year = 6,78,000
- Salary of Meeta charged to the partnership = 48,000
- Remaining Profit = 6,78,000 - 48,000 = 6,30,000
2. Calculation of Commission of Meeta:
- Commission of Meeta on remaining profit = 5% of 6,30,000 = 31,500
3. Calculation of Total Remuneration of Meeta:
- Total Remuneration of Meeta = Salary + Commission = 48,000 + 31,500 = 79,500
- But the question is asking for total remuneration, including the salary and commission, charged to the partnership.
- So, the remuneration charged to the partnership would be 79,500 - 4,000 (salary charged to the partnership) = 75,500
4. Calculation of Share of Seeta and Geeta:
- Total profit available for distribution = 6,30,000 (profit after charging Meeta's salary)
- Seeta's share = 6,30,000 x 4/5 = 5,04,000
- Geeta's share = 6,30,000 x 1/5 = 1,26,000
5. Final Calculation:
- Total remuneration charged to the partnership = Meeta's salary + Meeta's commission = 4,000 + 75,500 = 79,500
- Seeta's share = 5,04,000
- Geeta's share = 1,26,000
- Total Profit distributed = 5,04,000 + 1,26,000 = 6,30,000
- Remaining Profit = 6,78,000 - 6,30,000 = 48,000 (which is Meeta's salary)
Therefore, the total remuneration of Meeta charged to the partnership is 79,500 - 4,000 = 75,500. The correct option is A.
|
Explore Courses for Class 12 exam
|
|
Similar Class 12 Doubts
Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.a)78,000b)88,000c)87,000d)76,000Correct answer is option 'A'. Can you explain this answer?
Question Description
Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.a)78,000b)88,000c)87,000d)76,000Correct answer is option 'A'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.a)78,000b)88,000c)87,000d)76,000Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.a)78,000b)88,000c)87,000d)76,000Correct answer is option 'A'. Can you explain this answer?.
Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.a)78,000b)88,000c)87,000d)76,000Correct answer is option 'A'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.a)78,000b)88,000c)87,000d)76,000Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.a)78,000b)88,000c)87,000d)76,000Correct answer is option 'A'. Can you explain this answer?.
Solutions for Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.a)78,000b)88,000c)87,000d)76,000Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 12.
Download more important topics, notes, lectures and mock test series for Class 12 Exam by signing up for free.
Here you can find the meaning of Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.a)78,000b)88,000c)87,000d)76,000Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.a)78,000b)88,000c)87,000d)76,000Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.a)78,000b)88,000c)87,000d)76,000Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.a)78,000b)88,000c)87,000d)76,000Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Seeta and Geeta are partners sharing profits and losses in the ratio 4 : 1. Meeta was the manager who received a 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.a)78,000b)88,000c)87,000d)76,000Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Class 12 tests.
|
|
Explore Courses for Class 12 exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup