Seeta and geeta are partners sharing profit and losses in the ratio of...
Given:
- Seeta and Geeta are partners sharing profit and losses in the ratio of 4:1.
- Meeta was a manager who received a salary of 4000 per month.
- Meeta also receives a commission of 5% on net profits after charging such commission.
- Profits for the year are 678000 before charging salary.
To find:
- Total remuneration of Meeta
Solution:Step 1: Calculation of Net Profits
As per the given information, Seeta and Geeta share profits in the ratio of 4:1. Let's calculate their share of profits first.
Seeta's share = 4/5 * 678000 = 542400
Geeta's share = 1/5 * 678000 = 135600
Now, let's deduct Meeta's salary from the total profits.
Net Profits = 678000 - (12 * 4000) = 630000
Step 2: Calculation of Meeta's commission
As per the given information, Meeta receives a commission of 5% on net profits after charging such commission.
Commission = 5% of (630000 - 5% of 630000) = 5% of 598500 = 29925
Step 3: Calculation of Total Remuneration of Meeta
Total Remuneration of Meeta = Salary + Commission = 48000 + 29925 = 77925
Answer:Total Remuneration of Meeta =
77925