Hi, can anyone tell me the solution of this problem..plz give me in detail
The engineer of sugar mill is entitled to a commission of 5% of the net profit, the chemist of sugar mill is also entitled to a commission of 4% of the net profit, which in each case is to be calculated after charging the commission payable to the other person but before charging one's own commission.calculate the amount of commission. net profit of sugar mill before the two commission is 5,00,000rs?
thanks
Engineer share = 5% of (500000-(500000*4/104)) or 5% of (500000-19231) or (5*480769)/100 or say rs24038/-
chemist share = 4% of (500000-(500000*5/105)) or 4% of (500000-23810) or (4*476190)/100 or say rs19048/-
Profit after commission = 500000 -(19048+24038)=456914/-
I may be wrong..........please correct me if u get some other answer and that seems correct onei
Engineer share = 5% of (500000-(500000*4/104)) or 5% of (500000-19231) or (5*480769)/100 or say rs24038/-
chemist share = 4% of (500000-(500000*5/105)) or 4% of (500000-23810) or (4*476190)/100 or say rs19048/-
Profit after commission = 500000 -(19048+24038)=456914/-
I may be wrong..........please correct me if u get some other answer and that seems correct onei
CAclubindia
