CA Foundation Exam > CA Foundation Questions > Mr. X paid commission to his consignee Mr. Y ...
Start Learning for Free
Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.?
Most Upvoted Answer
Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales ...
Solution:
Given, commission paid by Mr. X to Mr. Y = Rs. 25,000 @ 5% = Rs. 1,25,000
Profit earned by Mr. Y on sales = 25%
Therefore, cost of goods sold by Mr. Y = 100/125 * cost price = 4/5 * cost price
Let the cost of goods sent by Mr. X be Rs. x
Total sales made by Mr. Y = x + 4/5 * x = 9/5 * x
Commission paid to Mr. Y = 5% of 9/5 * x = 9x/100
According to the question, commission paid = Rs. 1,25,000
Therefore, 9x/100 = 1,25,000
x = Rs. 13,88,888.88
Therefore, the cost of goods sent by Mr. X on consignment to Mr. Y is Rs. 13,88,888.88.
Answer: (d) Rs. 6,00,000.
Given, commission paid by Mr. X to Mr. Y = Rs. 25,000 @ 5% = Rs. 1,25,000
Profit earned by Mr. Y on sales = 25%
Therefore, cost of goods sold by Mr. Y = 100/125 * cost price = 4/5 * cost price
Let the cost of goods sent by Mr. X be Rs. x
Total sales made by Mr. Y = x + 4/5 * x = 9/5 * x
Commission paid to Mr. Y = 5% of 9/5 * x = 9x/100
According to the question, commission paid = Rs. 1,25,000
Therefore, 9x/100 = 1,25,000
x = Rs. 13,88,888.88
Therefore, the cost of goods sent by Mr. X on consignment to Mr. Y is Rs. 13,88,888.88.
Answer: (d) Rs. 6,00,000.
Community Answer
Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales ...
Since, commission is 5% of sale value ie. 25000
So the sale value = 25000* 100/5 = 500000
Now, Mr. Y sold goods at profit of 25% on cost
Therefore cost price = 500000 *100/125 =400000 .
The stock in
hand is ₹50000 at cost
Hence, Mr x sent goods costing ₹450000 to Mr y on consignment .
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
|
|
Top Courses for CA FoundationView all
Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.?
Question Description
Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.? 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 Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.?.
Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.? 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 Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.?.
Solutions for Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.? 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 Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.? defined & explained in the simplest way possible. Besides giving the explanation of
Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.?, a detailed solution for Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.? has been provided alongside types of Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.? theory, EduRev gives you an
ample number of questions to practice Mr. X paid commission to his consignee Mr. Y Rs. 25,000 @ 5% on sales made by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in hand as on 31.3.2016 is Rs. 50,000 at cost. What is the cost of goods sent by Mr. X on consignment to Mr. Y? (a) Rs. 4,50,000 (b) Rs. 75,000 (c) Rs. 5,50,000 (d) Rs. 6,00,000.? 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