shiv,mohan and gopal are partners sharing profits and losses in the ratio of 2:2:1. shiv is enttled yo a commission of 10% on the net profit. net profit for the year is rupees 1,10,000. determine the amount of commission payable to shiv​

Answers 2

Commission Payable to Shiv = Rs. 11,000

Explanation:

Given :

  • Ratio of Shiv, Mohan and Gopal = 2:2: 1
  • Shiv is entitled to a commission of 10% on the net profit
  • Net profit for the year is Rs. 1,10,000

To find :

  • The amount of commission payable to Shiv

Solution :

Ratio of Shiv, Mohan and Gopal = 2:2: 1

Rate of commission = 10%

Shiv's commission =

Net Profit × (Rate of commission/100)

1,10,000 × (10/100)

11,000

Shiv's commission = Rs. 11,000

Therefore, Commission Payable to Shiv = Rs. 11,000

Answer:

commission payable to shiv = Rs. 11,000

Explanation:

Commission (Rate) = 10%

Net profit for the year is rupees 1,10,000.

commission payable to shiv =

(Net profit × Rate)/100(1,10,000 × 10)/100

11,000

commission payable to shiv = Rs. 11,000

Hence, commission payable to shiv = Rs. 11,000

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