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A firm has 8 employees, each getting a salary of Rs. 8,000 p.m. After 1st Jan 2014 their salaries increased by 10%. On 1st July, 2014 they employed two trainees at salary of Rs. 2,500 each per month. The firm paid 11 months salaries only and has to pay the last one month’s salaries. The amount of total salary paid and outstanding salaries as on 3-12-2014 will be___
- a)7,04,000; 69,000
- b)7,99,400; 75,400
- c)7,64,000; 64,000
- d)None of these
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
A firm has 8 employees, each getting a salaryof Rs. 8,000 p.m. After 1...
Calculation of Salaries:
Salary of each employee before 1st Jan 2014 = Rs. 8,000 p.m.
After 10% increment, salary of each employee = 8,000 + (10% of 8,000) = Rs. 8,800 p.m.
Total salary of 8 employees = 8,800 x 8 = Rs. 70,400 p.m.
Salary paid for 11 months = 70,400 x 11 = Rs. 7,74,400
Salary of trainees:
Salary of each trainee = Rs. 2,500 p.m.
Total salary of 2 trainees for 11 months = 2,500 x 2 x 11 = Rs. 55,000
Total Salary Paid:
Total salary paid for 11 months = Rs. 7,74,400 + Rs. 55,000 = Rs. 8,29,400
Outstanding Salaries:
One month's salary of 8 employees = 70,400
One month's salary of 2 trainees = 2,500 x 2 = Rs. 5,000
Total outstanding salaries = 70,400 + 5,000 = Rs. 75,400
Therefore, the total salary paid and outstanding salaries as on 3-12-2014 will be Rs. 7,99,400 (option B).
Salary of each employee before 1st Jan 2014 = Rs. 8,000 p.m.
After 10% increment, salary of each employee = 8,000 + (10% of 8,000) = Rs. 8,800 p.m.
Total salary of 8 employees = 8,800 x 8 = Rs. 70,400 p.m.
Salary paid for 11 months = 70,400 x 11 = Rs. 7,74,400
Salary of trainees:
Salary of each trainee = Rs. 2,500 p.m.
Total salary of 2 trainees for 11 months = 2,500 x 2 x 11 = Rs. 55,000
Total Salary Paid:
Total salary paid for 11 months = Rs. 7,74,400 + Rs. 55,000 = Rs. 8,29,400
Outstanding Salaries:
One month's salary of 8 employees = 70,400
One month's salary of 2 trainees = 2,500 x 2 = Rs. 5,000
Total outstanding salaries = 70,400 + 5,000 = Rs. 75,400
Therefore, the total salary paid and outstanding salaries as on 3-12-2014 will be Rs. 7,99,400 (option B).
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Community Answer
A firm has 8 employees, each getting a salaryof Rs. 8,000 p.m. After 1...
On 1st January 2014 salary per month of employee - 8000+800(8000*10/100)=Rs.8,800
firm paid 11 months salary(8 employees) - Rs.8,800*8*11 months = Rs.7,74,400
two trainees salary paid for 5 months - Rs.2,500*2*5 months = Rs.25,000
Total salaries paid including trainees Rs.7,74,400 + Rs.25,000 = Rs.7,99,400
Outstanding salaries - Rs.8,800*8*1 month + Rs.2,500*2*1 month = Rs.75,400
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A firm has 8 employees, each getting a salaryof Rs. 8,000 p.m. After 1st Jan 2014 theirsalaries increased by 10%. On 1st July, 2014they employed two trainees at salary of Rs.2,500 each per month. The firm paid 11months salaries only and has to pay the lastone month’s salaries. The amount of totalsalary paid and outstanding salaries as on 3-12-2014 will be___a)7,04,000; 69,000b)7,99,400; 75,400c)7,64,000; 64,000d)None of theseCorrect answer is option 'B'. Can you explain this answer?
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A firm has 8 employees, each getting a salaryof Rs. 8,000 p.m. After 1st Jan 2014 theirsalaries increased by 10%. On 1st July, 2014they employed two trainees at salary of Rs.2,500 each per month. The firm paid 11months salaries only and has to pay the lastone month’s salaries. The amount of totalsalary paid and outstanding salaries as on 3-12-2014 will be___a)7,04,000; 69,000b)7,99,400; 75,400c)7,64,000; 64,000d)None of theseCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A firm has 8 employees, each getting a salaryof Rs. 8,000 p.m. After 1st Jan 2014 theirsalaries increased by 10%. On 1st July, 2014they employed two trainees at salary of Rs.2,500 each per month. The firm paid 11months salaries only and has to pay the lastone month’s salaries. The amount of totalsalary paid and outstanding salaries as on 3-12-2014 will be___a)7,04,000; 69,000b)7,99,400; 75,400c)7,64,000; 64,000d)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A firm has 8 employees, each getting a salaryof Rs. 8,000 p.m. After 1st Jan 2014 theirsalaries increased by 10%. On 1st July, 2014they employed two trainees at salary of Rs.2,500 each per month. The firm paid 11months salaries only and has to pay the lastone month’s salaries. The amount of totalsalary paid and outstanding salaries as on 3-12-2014 will be___a)7,04,000; 69,000b)7,99,400; 75,400c)7,64,000; 64,000d)None of theseCorrect answer is option 'B'. Can you explain this answer?.
A firm has 8 employees, each getting a salaryof Rs. 8,000 p.m. After 1st Jan 2014 theirsalaries increased by 10%. On 1st July, 2014they employed two trainees at salary of Rs.2,500 each per month. The firm paid 11months salaries only and has to pay the lastone month’s salaries. The amount of totalsalary paid and outstanding salaries as on 3-12-2014 will be___a)7,04,000; 69,000b)7,99,400; 75,400c)7,64,000; 64,000d)None of theseCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A firm has 8 employees, each getting a salaryof Rs. 8,000 p.m. After 1st Jan 2014 theirsalaries increased by 10%. On 1st July, 2014they employed two trainees at salary of Rs.2,500 each per month. The firm paid 11months salaries only and has to pay the lastone month’s salaries. The amount of totalsalary paid and outstanding salaries as on 3-12-2014 will be___a)7,04,000; 69,000b)7,99,400; 75,400c)7,64,000; 64,000d)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A firm has 8 employees, each getting a salaryof Rs. 8,000 p.m. After 1st Jan 2014 theirsalaries increased by 10%. On 1st July, 2014they employed two trainees at salary of Rs.2,500 each per month. The firm paid 11months salaries only and has to pay the lastone month’s salaries. The amount of totalsalary paid and outstanding salaries as on 3-12-2014 will be___a)7,04,000; 69,000b)7,99,400; 75,400c)7,64,000; 64,000d)None of theseCorrect answer is option 'B'. Can you explain this answer?.
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ample number of questions to practice A firm has 8 employees, each getting a salaryof Rs. 8,000 p.m. After 1st Jan 2014 theirsalaries increased by 10%. On 1st July, 2014they employed two trainees at salary of Rs.2,500 each per month. The firm paid 11months salaries only and has to pay the lastone month’s salaries. The amount of totalsalary paid and outstanding salaries as on 3-12-2014 will be___a)7,04,000; 69,000b)7,99,400; 75,400c)7,64,000; 64,000d)None of theseCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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