Commerce Exam  >  Commerce 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 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 data:
Ratio of Seeta and Geeta's profit sharing: 4:1
Salary received by Meeta: Rs. 4,000 p.m.
Commission received by Meeta on net profits after charging such commission: 5%
Profits for the year: Rs. 6,78,000 (before charging salary)

Total remuneration of Meeta:
Let's first calculate the net profits after deducting Meeta's salary:
Total salary received by Meeta in a year = Rs. 4,000 x 12 = Rs. 48,000
Net profits after deducting Meeta's salary = Profits for the year - Meeta's salary = Rs. 6,78,000 - Rs. 48,000 = Rs. 6,30,000

Now, let's calculate the commission received by Meeta on net profits:
Commission = 5% of net profits = 5/100 x Rs. 6,30,000 = Rs. 31,500

Total remuneration of Meeta = Salary + Commission = Rs. 48,000 + Rs. 31,500 = Rs. 79,500

Therefore, the correct option is (a) Rs. 78,000. However, there seems to be an error in the options provided as the calculated answer is Rs. 79,500.
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
Explore Courses for Commerce exam

Similar Commerce Doubts

Top Courses for Commerce

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?
Question Description
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 Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce 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 Commerce 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?.
Solutions 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? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce 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 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? 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 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?, a detailed solution 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? has been provided alongside types of 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? 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 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? tests, examples and also practice Commerce tests.
Explore Courses for Commerce exam

Top Courses for Commerce

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev