To determine the net profit of the corporation based on the given information, we can follow these steps:
1. Identify the given quantities:
- Each employee received a bonus of Rs 24,000.
- There are 120 employees.
- The bonus distributed is 8% of the net profit.
2. Calculate the total bonus distributed:
To find the total amount of bonus distributed, we multiply the bonus per employee by the number of employees.
\(\[
\text{Total Bonus} = \text{Bonus per Employee} \times \text{Number of Employees}
\]\)
Substituting the given values:
\(\[
\text{Total Bonus} = 24,000 \times 120
\]\)
\(\[
\text{Total Bonus} = 2,880,000
\]\)
So, the total bonus distributed among all employees is Rs 2,880,000.
3. Relate the total bonus to the net profit:
Since the total bonus distributed is 8% of the net profit, we can represent this relationship mathematically as:
\(\[
\text{Total Bonus} = 8\% \times \text{Net Profit}
\]\)
We can express 8% as a decimal for calculation purposes:
\(\[
8\% = \frac{8}{100} = 0.08
\]\)
So, we rewrite the equation:
\(\[
2,880,000 = 0.08 \times \text{Net Profit}
\]\)
4. Solve for the net profit:
To find the net profit, we need to isolate it on one side of the equation. We do this by dividing both sides of the equation by 0.08.
\(\[
\text{Net Profit} = \frac{2,880,000}{0.08}
\]\)
Performing the division:
\(\[
\text{Net Profit} = 36,000,000
\]\)
Therefore, the corporation made a net profit of Rs 36,000,000 in the last year.
