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Seeta and Geeta are partners sharing profits and losses in the ratio 4:1. Meeta was manager who received the salary of Rs. 4,000 p.m. in addition to a commission of 5% on net profits after charging such commission. Profits for the year is Rs. 6,78,000 before charging salary. Find the total remuneration of Meeta
  • a)
    Rs. 78,000
  • b)
    Rs. 88,000
  • c)
    Rs. 87,000
  • d)
    Rs. 76,000
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Seeta and Geeta are partners sharing profits and losses in the ratio 4...
Given information:
- Seeta and Geeta are partners sharing profits and losses in the ratio 4:1.
- Meeta is the manager who received a salary of Rs. 4,000 per month.
- Meeta also received a commission of 5% on net profits after charging such commission.
- The profits for the year are Rs. 6,78,000 before charging the salary.

To find: Total remuneration of Meeta

Step 1: Calculate the total salary of Meeta
Meeta's monthly salary = Rs. 4,000
Total salary for the year = 4,000 x 12 = Rs. 48,000

Step 2: Calculate the net profits after charging Meeta's salary
Total profits for the year = Rs. 6,78,000
Meeta's salary = Rs. 48,000

Net profits after charging Meeta's salary = Total profits - Meeta's salary
= 6,78,000 - 48,000 = Rs. 6,30,000

Step 3: Calculate Meeta's commission on net profits
Meeta's commission = 5% of net profits after charging Meeta's salary
= (5/100) x 6,30,000
= Rs. 31,500

Step 4: Calculate the total remuneration of Meeta
Total remuneration of Meeta = Meeta's salary + Meeta's commission
= 48,000 + 31,500
= Rs. 79,500

Therefore, the correct total remuneration of Meeta is Rs. 79,500, which is not listed as an option. None of the given options match the correct answer.
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Seeta and Geeta are partners sharing profits and losses in the ratio 4:1. Meeta was manager who received the salary of Rs. 4,000 p.m. in addition to a commission of 5% on net profits after charging such commission. Profits for the year is Rs. 6,78,000 before charging salary. Find the total remuneration of Meetaa)Rs. 78,000b)Rs. 88,000c)Rs. 87,000d)Rs. 76,000Correct answer is option 'A'. Can you explain this answer?
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Seeta and Geeta are partners sharing profits and losses in the ratio 4:1. Meeta was manager who received the salary of Rs. 4,000 p.m. in addition to a commission of 5% on net profits after charging such commission. Profits for the year is Rs. 6,78,000 before charging salary. Find the total remuneration of Meetaa)Rs. 78,000b)Rs. 88,000c)Rs. 87,000d)Rs. 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 manager who received the salary of Rs. 4,000 p.m. in addition to a commission of 5% on net profits after charging such commission. Profits for the year is Rs. 6,78,000 before charging salary. Find the total remuneration of Meetaa)Rs. 78,000b)Rs. 88,000c)Rs. 87,000d)Rs. 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 manager who received the salary of Rs. 4,000 p.m. in addition to a commission of 5% on net profits after charging such commission. Profits for the year is Rs. 6,78,000 before charging salary. Find the total remuneration of Meetaa)Rs. 78,000b)Rs. 88,000c)Rs. 87,000d)Rs. 76,000Correct answer is option 'A'. Can you explain this answer?.
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