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Atul purchased goods costing Rs. 50,000 at an invoice price, which is 50% above cost. On invoice price he enjoyed 15% trade discount and Rs. 3,750 cash discount on cash payment of goods in lump sum at the time of purchase. The purchase price to be recorded in the books before cash discount will be
  • a)
    Rs. 75,000.
  • b)
    Rs. 60,000.
  • c)
    Rs. 63,750.
  • d)
    Rs. 50,000.
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Atul purchased goods costing Rs. 50,000 at an invoice price, which is ...
Calculation of Purchase Price

Given:
Cost of goods = Rs. 50,000
Invoice price = 50% above cost = Rs. 75,000

Trade discount = 15% of invoice price = Rs. (15/100) x 75,000 = Rs. 11,250

After trade discount, the invoice price becomes = Rs. 75,000 - Rs. 11,250 = Rs. 63,750

Cash discount = Rs. 3,750

Purchase price before cash discount = Invoice price - Trade discount = Rs. 63,750 - Rs. 11,250 = Rs. 52,500

Purchase price after cash discount = Purchase price before cash discount - Cash discount = Rs. 52,500 - Rs. 3,750 = Rs. 48,750

Therefore, the purchase price to be recorded in the books before cash discount will be Rs. 63,750.
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Community Answer
Atul purchased goods costing Rs. 50,000 at an invoice price, which is ...
Selling price = 50000+50% of 50000
= 50000+25000
= 75000
trade discount = 15% of 75000
= 11250
purchase price before cash discount = 75000-11250
= 63750
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Atul purchased goods costing Rs. 50,000 at an invoice price, which is 50% above cost. On invoice price he enjoyed 15% trade discount and Rs. 3,750 cash discount on cash payment of goods in lump sum at the time of purchase. The purchase price to be recorded in the books before cash discount will bea)Rs. 75,000.b)Rs. 60,000.c)Rs. 63,750.d)Rs. 50,000.Correct answer is option 'C'. Can you explain this answer?
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Atul purchased goods costing Rs. 50,000 at an invoice price, which is 50% above cost. On invoice price he enjoyed 15% trade discount and Rs. 3,750 cash discount on cash payment of goods in lump sum at the time of purchase. The purchase price to be recorded in the books before cash discount will bea)Rs. 75,000.b)Rs. 60,000.c)Rs. 63,750.d)Rs. 50,000.Correct answer is option 'C'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about Atul purchased goods costing Rs. 50,000 at an invoice price, which is 50% above cost. On invoice price he enjoyed 15% trade discount and Rs. 3,750 cash discount on cash payment of goods in lump sum at the time of purchase. The purchase price to be recorded in the books before cash discount will bea)Rs. 75,000.b)Rs. 60,000.c)Rs. 63,750.d)Rs. 50,000.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Atul purchased goods costing Rs. 50,000 at an invoice price, which is 50% above cost. On invoice price he enjoyed 15% trade discount and Rs. 3,750 cash discount on cash payment of goods in lump sum at the time of purchase. The purchase price to be recorded in the books before cash discount will bea)Rs. 75,000.b)Rs. 60,000.c)Rs. 63,750.d)Rs. 50,000.Correct answer is option 'C'. Can you explain this answer?.
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