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P, Q and R are in partnership. P and Q sharing profits in the ratio of 4:3 and R receiving a salary of Rs. 20,000 p.a. plus a commission of 10% of the profits after charging his salary and commission, or 1/6th of the profit?
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P, Q and R are in partnership. P and Q sharing profits in the ratio of...
Calculation of Profit Share for P and Q:
- Let the total profit be x.
- P's share = 4x / (4+3) = 4x / 7
- Q's share = 3x / 7
Calculation of Profit Share for R:
- R's salary = Rs. 20,000 p.a.
- R's commission = 10% of (x - 20,000) or 1/6th of x
- Setting the two equal: 10% of (x - 20,000) = x / 6
- Solving for x, we get x = Rs. 3,00,000
Distribution of Profit:
- P's share = (4/7) * 3,00,000 = Rs. 1,71,428.57
- Q's share = (3/7) * 3,00,000 = Rs. 1,28,571.43
- R's salary = Rs. 20,000
- R's commission = 10% of (3,00,000 - 20,000) = Rs. 28,000
Final Distribution:
- P: Rs. 1,71,428.57
- Q: Rs. 1,28,571.43
- R: Rs. 20,000 (salary) + Rs. 28,000 (commission) = Rs. 48,000
This is how the profits are distributed among P, Q, and R in the given partnership.
- Let the total profit be x.
- P's share = 4x / (4+3) = 4x / 7
- Q's share = 3x / 7
Calculation of Profit Share for R:
- R's salary = Rs. 20,000 p.a.
- R's commission = 10% of (x - 20,000) or 1/6th of x
- Setting the two equal: 10% of (x - 20,000) = x / 6
- Solving for x, we get x = Rs. 3,00,000
Distribution of Profit:
- P's share = (4/7) * 3,00,000 = Rs. 1,71,428.57
- Q's share = (3/7) * 3,00,000 = Rs. 1,28,571.43
- R's salary = Rs. 20,000
- R's commission = 10% of (3,00,000 - 20,000) = Rs. 28,000
Final Distribution:
- P: Rs. 1,71,428.57
- Q: Rs. 1,28,571.43
- R: Rs. 20,000 (salary) + Rs. 28,000 (commission) = Rs. 48,000
This is how the profits are distributed among P, Q, and R in the given partnership.
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P, Q and R are in partnership. P and Q sharing profits in the ratio of 4:3 and R receiving a salary of Rs. 20,000 p.a. plus a commission of 10% of the profits after charging his salary and commission, or 1/6th of the profit?
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P, Q and R are in partnership. P and Q sharing profits in the ratio of 4:3 and R receiving a salary of Rs. 20,000 p.a. plus a commission of 10% of the profits after charging his salary and commission, or 1/6th of the profit? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about P, Q and R are in partnership. P and Q sharing profits in the ratio of 4:3 and R receiving a salary of Rs. 20,000 p.a. plus a commission of 10% of the profits after charging his salary and commission, or 1/6th of the profit? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for P, Q and R are in partnership. P and Q sharing profits in the ratio of 4:3 and R receiving a salary of Rs. 20,000 p.a. plus a commission of 10% of the profits after charging his salary and commission, or 1/6th of the profit?.
P, Q and R are in partnership. P and Q sharing profits in the ratio of 4:3 and R receiving a salary of Rs. 20,000 p.a. plus a commission of 10% of the profits after charging his salary and commission, or 1/6th of the profit? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about P, Q and R are in partnership. P and Q sharing profits in the ratio of 4:3 and R receiving a salary of Rs. 20,000 p.a. plus a commission of 10% of the profits after charging his salary and commission, or 1/6th of the profit? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for P, Q and R are in partnership. P and Q sharing profits in the ratio of 4:3 and R receiving a salary of Rs. 20,000 p.a. plus a commission of 10% of the profits after charging his salary and commission, or 1/6th of the profit?.
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