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A customer purchased a goods costing rs.2,25,000 for 3,00,000 and was alone a discount of 15,000.he was further also a discount of rs 5000 for payment in agreed time. What is the amt. Of trade discount allowed and if mr. Prem allowed a cash discount then what is the amt?
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A customer purchased a goods costing rs.2,25,000 for 3,00,000 and was ...
Calculation of Trade Discount and Cash Discount
Given:
- Cost of goods = Rs. 2,25,000
- Selling price = Rs. 3,00,000
- Discount 1 = Rs. 15,000
- Discount 2 = Rs. 5,000
Calculation of Trade Discount
Trade discount is the discount given by the seller to the buyer on the list price or cost of goods. It is given as a percentage of the list price. We can calculate the trade discount using the following formula:
Trade Discount = List Price × Rate of Discount
Here, the selling price is given, so we need to calculate the list price first. We can calculate the list price using the following formula:
List Price = Cost of Goods/(100% - Rate of Profit)
Let's calculate the list price first:
List Price = 2,25,000/(100% - Rate of Profit)
As the rate of profit is not given, we cannot calculate the list price. However, we can use the given information to calculate the trade discount. The discount given is Rs. 15,000. We can assume this as the trade discount and calculate the rate of discount as follows:
Rate of Discount = Trade Discount / List Price × 100%
Rate of Discount = 15,000 / List Price × 100%
As we do not have the list price, we cannot calculate the rate of discount.
Calculation of Cash Discount
Cash discount is the discount given by the seller to the buyer for making payment within the agreed time period. It is given as a percentage of the selling price. We can calculate the cash discount using the following formula:
Cash Discount = Selling Price × Rate of Cash Discount
Here, the rate of cash discount is not given, so we cannot calculate the cash discount.
Conclusion
As the rate of profit and rate of cash discount are not given, we cannot calculate the list price, rate of discount, and cash discount. Therefore, we cannot calculate the trade discount and cash discount accurately. However, we can assume that the given discount of Rs. 15,000 is the trade discount and the discount of Rs. 5,000 is the cash discount.
Community Answer
A customer purchased a goods costing rs.2,25,000 for 3,00,000 and was ...
Trade discount is15000 &after cash discount amt. is 280000
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A customer purchased a goods costing rs.2,25,000 for 3,00,000 and was alone a discount of 15,000.he was further also a discount of rs 5000 for payment in agreed time. What is the amt. Of trade discount allowed and if mr. Prem allowed a cash discount then what is the amt?
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A customer purchased a goods costing rs.2,25,000 for 3,00,000 and was alone a discount of 15,000.he was further also a discount of rs 5000 for payment in agreed time. What is the amt. Of trade discount allowed and if mr. Prem allowed a cash discount then what is the amt? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about A customer purchased a goods costing rs.2,25,000 for 3,00,000 and was alone a discount of 15,000.he was further also a discount of rs 5000 for payment in agreed time. What is the amt. Of trade discount allowed and if mr. Prem allowed a cash discount then what is the amt? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A customer purchased a goods costing rs.2,25,000 for 3,00,000 and was alone a discount of 15,000.he was further also a discount of rs 5000 for payment in agreed time. What is the amt. Of trade discount allowed and if mr. Prem allowed a cash discount then what is the amt?.
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