The manager of ABC Ltd. is entitled to a commission of 5% on net profits, after charging such commission. If the amount of commission payable for the year is Rs. 20,000, the net profit of ABC Ltd. after such commission would be:
1
Rs. 4,40,000
2
Rs. 4,20,000
3
Rs. 3,80,000
4
Rs. 3,99,000
5
Rs. 4,00,000