Question
A and B started a business by investing Rs. 18,000 and
Rs. 27,000 respectively. A also worked as the active manager and for that he is entitled to receive a commission which is equal to 30% of profit. If the difference between the amount received by A and B at the end of the year is Rs. 960, then find the profit (before commission was given to A) earned by them.Solution
Let the profit earned before commission was given to A be Rs. ‘100x’ Commission of A = 100x × 0.30x = Rs. 30x Ratio of profit shares of A to B = 18000:27000 = 2:3 Profit earned by A = (100x – 30x) × (2/5) = Rs. 28x Profit earned by B = (100x – 30x) × (3/5) = Rs. 42x According to the question 30x + 28x – 42x = 960 Or, 16x = 960 So, x = 60 So, required profit = 60 × 100 = Rs. 6,000
Which of the statements are correct relating to the nature of shares or debentures of a company?
What is consent under the Indian Contract Act, 1872?
Where the Court orders service by an advertisement in a newspaper, a daily newspaper circulating in the locality in which the defendant is last known to...
What shall be credited to the Pension Regulatory and Development Fund as per the PFRDA Act?
Under which section can the court extend the limitation period for suits by or against minors?
The choice of arbitrator rests with whom in case parties fail to decide?
S. 13 of CPC provides that a Foreign Jugdment shall ______________?
Money Bills are introduced in which of the following as per the Constitution of India?
Which of the following would constitute "sufficient cause" for condonation of delay under Section 5 of the Limitation Act, 1963?
What is the period of limitation if the offence is punishable with imprisonment for a term exceeding one year but not exceeding three years under the CrPC?