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A gets six percent commission on profit after salary and before reserve. Profit is Rs 480000 and salary is Rs 80000. What is the commission?

Answer and explanation

Correct answer: Rs 24000

Profit after salary is Rs 400000. Reserve is created later so six percent commission is Rs 24000.

Related tags

CommissionSalaryOrderProfit DistributionPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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