Calculate manager's commission at 10\% on Net profit, if the Divisible profit of a firm is Rs. 10,000 , salary to partners is Rs. 3,000 and Interest o - Accountancy MCQ CUET Accountancy 2022 15 July Shift 2 2026 | ExamTest.live

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Calculate manager's commission at 10% on Net profit, if the Divisible profit of a firm is Rs. 10, 000, salary to partners is Rs. 3, 000 and Interest on drawings is Rs. 2, 000 .

Solution & Step-by-step Explanation

Let Net Profit be NP .The Profit and Loss Appropriation Account sequence gives us: Divisible Profit = Net Profit - Salary to Partners + Interest on Drawings 10, 000 = Net Profit - 3, 000 + 2, 000 10, 000 = Net Profit - 1, 000 Net Profit = 10, 000 + 1, 000 = 11, 000 Manager's Commission is calculated at 10% on Net Profit: Manager’s Commission = 11, 000 \times \frac{10}{100} = 1, 100

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Calculate manager's commission at 10% on Net profit, if the Divisible profit of a firm is Rs. 10, 000, salary to partners is Rs. 3, 000 and Interest on drawings is Rs. 2, 000 .

Rs. 1500

Rs. 900

Rs. 1100

Rs. 1000

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