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X send out goods costing Rs. 200000 to Y. 3/5 th of the goods were sold by consignee for Rs. 140000. Commission 2% on sales plus 15% of gross sales less all commission exceeds cost price. The amount of commission will be : (a) 5600 (b) 5800 (c) 6000 (d) 5043?
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X send out goods costing Rs. 200000 to Y. 3/5 th of the goods were sol...
Calculation of the Goods
To begin with, let's calculate the total value of the goods sent by X to Y. The goods are valued at Rs. 200000.
Calculation of Goods Sold
Out of the goods received by Y, 3/5th of the goods were sold for Rs. 140000.
Hence, the value of the goods sold can be calculated as follows:
Value of goods sold = (3/5) * Rs. 200000 = Rs. 120000
Calculation of Gross Sales
The gross sales can be calculated by dividing the value of the goods sold by the sales percentage:
Gross sales = Value of goods sold / Sales percentage
Gross sales = Rs. 120000 / (3/5) = Rs. 200000
Calculation of Commission
The commission is calculated as 2% on sales plus 15% of the gross sales less all commission.
Commission = (2% of gross sales) + (15% of gross sales - commission)
Let's assume the commission to be 'x' and calculate it using the above formula:
Commission = (2/100) * Rs. 200000 + (15/100) * (Rs. 200000 - x)
Simplifying the equation, we get:
Commission = 4000 + 30000 - 0.15x
Commission = 34000 - 0.15x
To find the value of 'x', we equate the commission to the cost price:
Commission = Cost price
34000 - 0.15x = Rs. 200000
Solving the equation, we get:
0.15x = Rs. 166000
x = Rs. 166000 / 0.15
x = Rs. 1106666.67
Hence, the amount of commission will be Rs. 1106666.67, which does not match any of the given options (a), (b), (c), or (d).
Therefore, none of the provided options is the correct answer.
Note: The calculation assumes that the commission is calculated on the gross sales after deducting the commission. However, it is always recommended to clarify any ambiguities in the given question before making any assumptions.
To begin with, let's calculate the total value of the goods sent by X to Y. The goods are valued at Rs. 200000.
Calculation of Goods Sold
Out of the goods received by Y, 3/5th of the goods were sold for Rs. 140000.
Hence, the value of the goods sold can be calculated as follows:
Value of goods sold = (3/5) * Rs. 200000 = Rs. 120000
Calculation of Gross Sales
The gross sales can be calculated by dividing the value of the goods sold by the sales percentage:
Gross sales = Value of goods sold / Sales percentage
Gross sales = Rs. 120000 / (3/5) = Rs. 200000
Calculation of Commission
The commission is calculated as 2% on sales plus 15% of the gross sales less all commission.
Commission = (2% of gross sales) + (15% of gross sales - commission)
Let's assume the commission to be 'x' and calculate it using the above formula:
Commission = (2/100) * Rs. 200000 + (15/100) * (Rs. 200000 - x)
Simplifying the equation, we get:
Commission = 4000 + 30000 - 0.15x
Commission = 34000 - 0.15x
To find the value of 'x', we equate the commission to the cost price:
Commission = Cost price
34000 - 0.15x = Rs. 200000
Solving the equation, we get:
0.15x = Rs. 166000
x = Rs. 166000 / 0.15
x = Rs. 1106666.67
Hence, the amount of commission will be Rs. 1106666.67, which does not match any of the given options (a), (b), (c), or (d).
Therefore, none of the provided options is the correct answer.
Note: The calculation assumes that the commission is calculated on the gross sales after deducting the commission. However, it is always recommended to clarify any ambiguities in the given question before making any assumptions.
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X send out goods costing Rs. 200000 to Y. 3/5 th of the goods were sold by consignee for Rs. 140000. Commission 2% on sales plus 15% of gross sales less all commission exceeds cost price. The amount of commission will be : (a) 5600 (b) 5800 (c) 6000 (d) 5043?
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X send out goods costing Rs. 200000 to Y. 3/5 th of the goods were sold by consignee for Rs. 140000. Commission 2% on sales plus 15% of gross sales less all commission exceeds cost price. The amount of commission will be : (a) 5600 (b) 5800 (c) 6000 (d) 5043? 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 X send out goods costing Rs. 200000 to Y. 3/5 th of the goods were sold by consignee for Rs. 140000. Commission 2% on sales plus 15% of gross sales less all commission exceeds cost price. The amount of commission will be : (a) 5600 (b) 5800 (c) 6000 (d) 5043? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X send out goods costing Rs. 200000 to Y. 3/5 th of the goods were sold by consignee for Rs. 140000. Commission 2% on sales plus 15% of gross sales less all commission exceeds cost price. The amount of commission will be : (a) 5600 (b) 5800 (c) 6000 (d) 5043?.
X send out goods costing Rs. 200000 to Y. 3/5 th of the goods were sold by consignee for Rs. 140000. Commission 2% on sales plus 15% of gross sales less all commission exceeds cost price. The amount of commission will be : (a) 5600 (b) 5800 (c) 6000 (d) 5043? 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 X send out goods costing Rs. 200000 to Y. 3/5 th of the goods were sold by consignee for Rs. 140000. Commission 2% on sales plus 15% of gross sales less all commission exceeds cost price. The amount of commission will be : (a) 5600 (b) 5800 (c) 6000 (d) 5043? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X send out goods costing Rs. 200000 to Y. 3/5 th of the goods were sold by consignee for Rs. 140000. Commission 2% on sales plus 15% of gross sales less all commission exceeds cost price. The amount of commission will be : (a) 5600 (b) 5800 (c) 6000 (d) 5043?.
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