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Sold goods rs 12000 to Thakur and co, issued at 20% above cost less 10% discount?
Most Upvoted Answer
Sold goods rs 12000 to Thakur and co, issued at 20% above cost less 10...
Explanation of the Transaction:
The transaction involves selling goods to Thakur and Co. The goods are sold at a price of Rs 12,000. The selling price is determined by adding a markup of 20% above the cost price and then granting a discount of 10%.
Calculating the Selling Price:
To determine the selling price of the goods, we need to calculate the cost price and then apply the markup and discount.
Markup Calculation:
Markup is the amount added to the cost price to determine the selling price. In this case, the markup is 20% of the cost price.
Markup = 20% of Cost Price
Discount Calculation:
After applying the markup, a discount of 10% is granted on the selling price.
Discount = 10% of Selling Price
Calculating the Selling Price:
To calculate the selling price, we need to follow the steps below:
1. Calculate the cost price.
2. Apply the markup to determine the marked price.
3. Apply the discount to calculate the selling price.
Step 1: Calculating the Cost Price:
Since the cost price is not mentioned in the question, we need to calculate it.
Let's assume the cost price of the goods is CP.
Step 2: Applying the Markup:
The markup is 20% of the cost price.
Markup = 20% of CP
Step 3: Applying the Discount:
After applying the markup, a discount of 10% is granted on the selling price.
Discount = 10% of (CP + Markup)
Step 4: Calculating the Selling Price:
The selling price can be calculated by subtracting the discount from the marked price.
Selling Price = Marked Price - Discount
Summary:
The goods are sold to Thakur and Co. at a selling price of Rs 12,000. The selling price is determined by adding a markup of 20% above the cost price and then granting a discount of 10%. The cost price, markup, and discount are calculated based on the given percentages.
The transaction involves selling goods to Thakur and Co. The goods are sold at a price of Rs 12,000. The selling price is determined by adding a markup of 20% above the cost price and then granting a discount of 10%.
Calculating the Selling Price:
To determine the selling price of the goods, we need to calculate the cost price and then apply the markup and discount.
Markup Calculation:
Markup is the amount added to the cost price to determine the selling price. In this case, the markup is 20% of the cost price.
Markup = 20% of Cost Price
Discount Calculation:
After applying the markup, a discount of 10% is granted on the selling price.
Discount = 10% of Selling Price
Calculating the Selling Price:
To calculate the selling price, we need to follow the steps below:
1. Calculate the cost price.
2. Apply the markup to determine the marked price.
3. Apply the discount to calculate the selling price.
Step 1: Calculating the Cost Price:
Since the cost price is not mentioned in the question, we need to calculate it.
Let's assume the cost price of the goods is CP.
Step 2: Applying the Markup:
The markup is 20% of the cost price.
Markup = 20% of CP
Step 3: Applying the Discount:
After applying the markup, a discount of 10% is granted on the selling price.
Discount = 10% of (CP + Markup)
Step 4: Calculating the Selling Price:
The selling price can be calculated by subtracting the discount from the marked price.
Selling Price = Marked Price - Discount
Summary:
The goods are sold to Thakur and Co. at a selling price of Rs 12,000. The selling price is determined by adding a markup of 20% above the cost price and then granting a discount of 10%. The cost price, markup, and discount are calculated based on the given percentages.
Community Answer
Sold goods rs 12000 to Thakur and co, issued at 20% above cost less 10...
Thakur &co.a/c.....dr 2160
To sales ac.....2160
To sales ac.....2160
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Sold goods rs 12000 to Thakur and co, issued at 20% above cost less 10% discount?
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Sold goods rs 12000 to Thakur and co, issued at 20% above cost less 10% discount? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Sold goods rs 12000 to Thakur and co, issued at 20% above cost less 10% discount? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sold goods rs 12000 to Thakur and co, issued at 20% above cost less 10% discount?.
Sold goods rs 12000 to Thakur and co, issued at 20% above cost less 10% discount? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Sold goods rs 12000 to Thakur and co, issued at 20% above cost less 10% discount? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sold goods rs 12000 to Thakur and co, issued at 20% above cost less 10% discount?.
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