Accounting problem

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

Replies (7)

Hello,

Commissions are:-
 

Eng.:- RS 24048/-

Chemist:-Rs 19038/-

ok

Originally posted by :PiyushAgrawal
" Hello,
Commissions are:-
 
Eng.:- RS 24048/-
Chemist:-Rs 19038/-
"

 

Hi can u pls give me how its 24048/-

I think its 500000*5/105 = 23810/-

Pls clarify if I am wrong

Originally posted by :Skand Kamat
"


Originally posted by :PiyushAgrawal


"
Hello,
Commissions are:-
 
Eng.:- RS 24048/-
Chemist:-Rs 19038/-
"



 
Hi can u pls give me how its 24048/-
I think its 500000*5/105 = 23810/-
Pls clarify if I am wrong
"


 

Commission is payble to eng 5 % of NP which is Calculated after deducting chemist commission not his...

Hello Skand,
 

 

U can see solution in attach file..

 

Thank you very much for clearing the doubt and for your time...

Thank you very much

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