Charu and Chetan started a business by investing Rs. 15,000 and Rs. 20,000 respectively. Charu also worked as the active manager and for that, she is entitled to receive a commission which is equal to 16% of the profit. If the difference between the amount received by Charu and Chetan at the end of the year is Rs. 3000, then find the profit (before commission was given to Charu) earned by them.
Let the profit earned before commission was given to Charu be Rs. ‘100x’. Commission of Charu = 100x × 0.16 = Rs. 16x. Ratio of profit shares of Charu to Chetan = 15000:20000 = 3:4. Profit earned by Charu = (100x – 16x) × (3/7) = Rs. 36x. Profit earned by Chetan = (100x – 16x) × (4/7) = Rs. 48x. According to the question, 36x + 16x – 48x = 3000, Or, 2x = 3000, So, x = 1500. So, required profit = 1500 × 100 = Rs. 1,50,000
The term Gross Working Capital is known as:
What does the term "capital structure" refer to in the context of corporate finance?
_____is the new maximum limit for retirement and death gratuity as revised by the Government of India.
Under what conditions can an infrastructure project loan be classified as a Non-Performing Asset (NPA) before the commencement of commercial operations ...
What do GFCs offer to importers, exporters, and other international trade participants?
What duties are taxes on intra-State supplies?
Which among the following can result into the difference in the cash and the pass book balance:
The Economic Survey 2023 projects a baseline GDP growth of ________ in real terms in FY24.
The REER is used to measure the value of a specific currency in relation to an average group of major currencies. What does REER stand for?
Which one of the following statements is true Cooperative Banking?
