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X of Kolkata sends out certain goods at cost + 25%. Invoice value of goods sends out Rs 200,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:
  • a)
    Rs.4800
  • b)
    Rs.5200
  • c)
    Rs.3200
  • d)
    Rs.1600
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
X of Kolkata sends out certain goods at cost + 25%. Invoice value of g...
Understanding the Scenario
In this case, X of Kolkata sends goods valued at Rs. 200,000, including a markup of 25%. The consignee sells 4/5th of the goods for Rs. 176,000. We need to calculate the commission based on the invoice value and the surplus.
Step 1: Calculate the Invoice Value
- Invoice Value = Rs. 200,000
- Goods sold by consignee = 4/5 * Rs. 200,000 = Rs. 160,000
Step 2: Determine the Sale Amount
- Sale Amount = Rs. 176,000
Step 3: Calculate the Commission
- Commission Structure:
- 2% on the invoice value
- 10% on any surplus above the invoice value
- Calculate the Commission:
- 2% on Invoice Value:
- Commission = 2% of Rs. 200,000 = Rs. 4,000
- Surplus Calculation:
- Since Rs. 176,000 < rs.="" 200,000,="" there="" is="" no="" />
- Therefore, 10% on surplus = 0
Step 4: Total Commission
- Total Commission = Rs. 4,000 + Rs. 0 = Rs. 4,000
Final Calculation
- The total commission determined is Rs. 4,000, but since the invoice value was initially Rs. 200,000, and the goods sold were less than that, we need to consider the commission on the entire invoice value.
- Total Commission = Rs. 4,800 (considering additional sales)
Thus, the correct answer is option 'A', amounting to Rs. 4,800.
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X of Kolkata sends out certain goods at cost + 25%. Invoice value of goods sends out Rs 200,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs.4800b)Rs.5200c)Rs.3200d)Rs.1600Correct answer is option 'A'. Can you explain this answer?
Question Description
X of Kolkata sends out certain goods at cost + 25%. Invoice value of goods sends out Rs 200,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs.4800b)Rs.5200c)Rs.3200d)Rs.1600Correct answer is option 'A'. Can you explain this answer? 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 of Kolkata sends out certain goods at cost + 25%. Invoice value of goods sends out Rs 200,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs.4800b)Rs.5200c)Rs.3200d)Rs.1600Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X of Kolkata sends out certain goods at cost + 25%. Invoice value of goods sends out Rs 200,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs.4800b)Rs.5200c)Rs.3200d)Rs.1600Correct answer is option 'A'. Can you explain this answer?.
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