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Ram of Delhi sends out goods costing Rs. 2,00,000 to Krishna of Brindaban. Consignor’s expenses Rs. 5000. Consignee’s expenses in relation to sales Rs. 2,000. 4/5th of the goods were sold t 20% above cost. The profit on consignment will be:
- a)Rs. 26,000
- b)Rs. 32,000
- c)Rs. 26,200
- d)Rs. (6,000)
Correct answer is option 'A'. Can you explain this answer?
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Ram of Delhi sends out goods costing Rs. 2,00,000 to Krishna of Brinda...
(Ram) bears the expenses of transportation and insurance amounting to Rs. 20,000. The terms of the consignment are such that the consignor (Ram) is entitled to a commission of 10% on the sale price of the goods.
If Krishna sells the goods for Rs. 2,50,000, then the following calculations can be made:
Sale price of goods = Rs. 2,50,000
Cost price of goods = Rs. 2,00,000
Expenses (transportation and insurance) = Rs. 20,000
Total cost = Cost price + Expenses = Rs. 2,20,000
Commission of consignor (10% of sale price) = 10% of Rs. 2,50,000 = Rs. 25,000
Net amount payable to consignor = Sale price - Total cost - Commission
= Rs. 2,50,000 - Rs. 2,20,000 - Rs. 25,000
= Rs. 5,000
Therefore, Ram (the consignor) will receive a net amount of Rs. 5,000 as his share of the sale proceeds.
If Krishna sells the goods for Rs. 2,50,000, then the following calculations can be made:
Sale price of goods = Rs. 2,50,000
Cost price of goods = Rs. 2,00,000
Expenses (transportation and insurance) = Rs. 20,000
Total cost = Cost price + Expenses = Rs. 2,20,000
Commission of consignor (10% of sale price) = 10% of Rs. 2,50,000 = Rs. 25,000
Net amount payable to consignor = Sale price - Total cost - Commission
= Rs. 2,50,000 - Rs. 2,20,000 - Rs. 25,000
= Rs. 5,000
Therefore, Ram (the consignor) will receive a net amount of Rs. 5,000 as his share of the sale proceeds.
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Ram of Delhi sends out goods costing Rs. 2,00,000 to Krishna of Brindaban. Consignor’s expenses Rs. 5000. Consignee’s expenses in relation to sales Rs. 2,000. 4/5thof the goods were sold t 20% above cost. The profit on consignment will be:a)Rs. 26,000b)Rs. 32,000c)Rs. 26,200d)Rs. (6,000)Correct answer is option 'A'. Can you explain this answer?
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Ram of Delhi sends out goods costing Rs. 2,00,000 to Krishna of Brindaban. Consignor’s expenses Rs. 5000. Consignee’s expenses in relation to sales Rs. 2,000. 4/5thof the goods were sold t 20% above cost. The profit on consignment will be:a)Rs. 26,000b)Rs. 32,000c)Rs. 26,200d)Rs. (6,000)Correct 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 Ram of Delhi sends out goods costing Rs. 2,00,000 to Krishna of Brindaban. Consignor’s expenses Rs. 5000. Consignee’s expenses in relation to sales Rs. 2,000. 4/5thof the goods were sold t 20% above cost. The profit on consignment will be:a)Rs. 26,000b)Rs. 32,000c)Rs. 26,200d)Rs. (6,000)Correct 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 Ram of Delhi sends out goods costing Rs. 2,00,000 to Krishna of Brindaban. Consignor’s expenses Rs. 5000. Consignee’s expenses in relation to sales Rs. 2,000. 4/5thof the goods were sold t 20% above cost. The profit on consignment will be:a)Rs. 26,000b)Rs. 32,000c)Rs. 26,200d)Rs. (6,000)Correct answer is option 'A'. Can you explain this answer?.
Ram of Delhi sends out goods costing Rs. 2,00,000 to Krishna of Brindaban. Consignor’s expenses Rs. 5000. Consignee’s expenses in relation to sales Rs. 2,000. 4/5thof the goods were sold t 20% above cost. The profit on consignment will be:a)Rs. 26,000b)Rs. 32,000c)Rs. 26,200d)Rs. (6,000)Correct 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 Ram of Delhi sends out goods costing Rs. 2,00,000 to Krishna of Brindaban. Consignor’s expenses Rs. 5000. Consignee’s expenses in relation to sales Rs. 2,000. 4/5thof the goods were sold t 20% above cost. The profit on consignment will be:a)Rs. 26,000b)Rs. 32,000c)Rs. 26,200d)Rs. (6,000)Correct 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 Ram of Delhi sends out goods costing Rs. 2,00,000 to Krishna of Brindaban. Consignor’s expenses Rs. 5000. Consignee’s expenses in relation to sales Rs. 2,000. 4/5thof the goods were sold t 20% above cost. The profit on consignment will be:a)Rs. 26,000b)Rs. 32,000c)Rs. 26,200d)Rs. (6,000)Correct answer is option 'A'. Can you explain this answer?.
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