CA CPT Model Test Paper 2 with solutions for online practice

Gattu and Bittu entered into a joint venture where Gattu bought goods of the valueRs. 1,00,000 and consigned them to Bittu to be sold by him on joint venture, profits beingdivided equally. Gattu paid Rs. 10,000 for freight and insurance. Bittu sold the goods for Rs.1,50,000. Commission payable to Bittu Rs. 5,000. The amount to be remitted by Bittu toGattu will be