Question : Net profit before commission has been Rs.1,20,000. Partner's commission is 20% of net profit before charging such commission. The amount of partner's commission is:
Option 1: Rs.25,000
Option 2: Rs.24.000
Option 3: Rs.20,000
Option 4: Rs.22,000
Answer (1)
25th Jan, 2024
Correct Answer: Rs.24.000
Solution :
Partner's Commission = Net profit X % of commission/100 = Rs.1,20,000 X 20/100 = Rs.24,0000.
Hence, the correct option is 2.
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