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A invoiced certain goods so as to show a profit of 20% on invoice price 1/10th of the goods were lost in transit. The cost price of goods lost is ` 40,000. The invoice value of goods sent out is: (a) '5,00,000 (b) 4,80,000 (c) 4,50,000 (d) '4,00,000?
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A invoiced certain goods so as to show a profit of 20% on invoice pric...
Solution:
Given, profit on invoice price = 20%
Let the cost price of goods be Rs. x.
Then, the selling price of goods = cost price + profit
= x + 20% of x
= 1.2x
Now, it is given that 1/10th of the goods were lost in transit, and the cost price of goods lost is Rs. 40,000. Therefore, the cost price of the goods sent out = x - 40,000
We know that selling price = 1.2x, and the cost price of the goods sent out = x - 40,000.
Hence, the invoice value of goods sent out can be calculated as follows:
Invoice value = (selling price / cost price) × cost price of the goods sent out
= (1.2x / (x - 40,000)) × (x - 40,000)
= 1.2x
Therefore, the invoice value of goods sent out is Rs. 1.2x.
Now, we are given that the cost price of goods lost is Rs. 40,000.
Hence, the total cost price of goods = cost price of goods sent out + cost price of goods lost
= x - 40,000 + 40,000
= x
Therefore, the invoice value of goods sent out is equal to the total cost price of goods, which means that there is no profit or loss.
Hence, the answer is (d) Rs. 4,00,000.
HTML Bullets:
- Profit on invoice price = 20%
- Cost price of goods lost = Rs. 40,000
- Selling price of goods = cost price + profit = x + 20% of x = 1.2x
- Cost price of the goods sent out = x - 40,000
- Invoice value = (selling price / cost price) × cost price of the goods sent out = (1.2x / (x - 40,000)) × (x - 40,000) = 1.2x
- Total cost price of goods = cost price of goods sent out + cost price of goods lost = x - 40,000 + 40,000 = x
- Invoice value of goods sent out is equal to the total cost price of goods, which means that there is no profit or loss.
- Answer: (d) Rs. 4,00,000.
Given, profit on invoice price = 20%
Let the cost price of goods be Rs. x.
Then, the selling price of goods = cost price + profit
= x + 20% of x
= 1.2x
Now, it is given that 1/10th of the goods were lost in transit, and the cost price of goods lost is Rs. 40,000. Therefore, the cost price of the goods sent out = x - 40,000
We know that selling price = 1.2x, and the cost price of the goods sent out = x - 40,000.
Hence, the invoice value of goods sent out can be calculated as follows:
Invoice value = (selling price / cost price) × cost price of the goods sent out
= (1.2x / (x - 40,000)) × (x - 40,000)
= 1.2x
Therefore, the invoice value of goods sent out is Rs. 1.2x.
Now, we are given that the cost price of goods lost is Rs. 40,000.
Hence, the total cost price of goods = cost price of goods sent out + cost price of goods lost
= x - 40,000 + 40,000
= x
Therefore, the invoice value of goods sent out is equal to the total cost price of goods, which means that there is no profit or loss.
Hence, the answer is (d) Rs. 4,00,000.
HTML Bullets:
- Profit on invoice price = 20%
- Cost price of goods lost = Rs. 40,000
- Selling price of goods = cost price + profit = x + 20% of x = 1.2x
- Cost price of the goods sent out = x - 40,000
- Invoice value = (selling price / cost price) × cost price of the goods sent out = (1.2x / (x - 40,000)) × (x - 40,000) = 1.2x
- Total cost price of goods = cost price of goods sent out + cost price of goods lost = x - 40,000 + 40,000 = x
- Invoice value of goods sent out is equal to the total cost price of goods, which means that there is no profit or loss.
- Answer: (d) Rs. 4,00,000.
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A invoiced certain goods so as to show a profit of 20% on invoice price 1/10th of the goods were lost in transit. The cost price of goods lost is ` 40,000. The invoice value of goods sent out is: (a) '5,00,000 (b) 4,80,000 (c) 4,50,000 (d) '4,00,000?
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A invoiced certain goods so as to show a profit of 20% on invoice price 1/10th of the goods were lost in transit. The cost price of goods lost is ` 40,000. The invoice value of goods sent out is: (a) '5,00,000 (b) 4,80,000 (c) 4,50,000 (d) '4,00,000? 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 A invoiced certain goods so as to show a profit of 20% on invoice price 1/10th of the goods were lost in transit. The cost price of goods lost is ` 40,000. The invoice value of goods sent out is: (a) '5,00,000 (b) 4,80,000 (c) 4,50,000 (d) '4,00,000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A invoiced certain goods so as to show a profit of 20% on invoice price 1/10th of the goods were lost in transit. The cost price of goods lost is ` 40,000. The invoice value of goods sent out is: (a) '5,00,000 (b) 4,80,000 (c) 4,50,000 (d) '4,00,000?.
A invoiced certain goods so as to show a profit of 20% on invoice price 1/10th of the goods were lost in transit. The cost price of goods lost is ` 40,000. The invoice value of goods sent out is: (a) '5,00,000 (b) 4,80,000 (c) 4,50,000 (d) '4,00,000? 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 A invoiced certain goods so as to show a profit of 20% on invoice price 1/10th of the goods were lost in transit. The cost price of goods lost is ` 40,000. The invoice value of goods sent out is: (a) '5,00,000 (b) 4,80,000 (c) 4,50,000 (d) '4,00,000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A invoiced certain goods so as to show a profit of 20% on invoice price 1/10th of the goods were lost in transit. The cost price of goods lost is ` 40,000. The invoice value of goods sent out is: (a) '5,00,000 (b) 4,80,000 (c) 4,50,000 (d) '4,00,000?.
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A invoiced certain goods so as to show a profit of 20% on invoice price 1/10th of the goods were lost in transit. The cost price of goods lost is ` 40,000. The invoice value of goods sent out is: (a) '5,00,000 (b) 4,80,000 (c) 4,50,000 (d) '4,00,000?, a detailed solution for A invoiced certain goods so as to show a profit of 20% on invoice price 1/10th of the goods were lost in transit. The cost price of goods lost is ` 40,000. The invoice value of goods sent out is: (a) '5,00,000 (b) 4,80,000 (c) 4,50,000 (d) '4,00,000? has been provided alongside types of A invoiced certain goods so as to show a profit of 20% on invoice price 1/10th of the goods were lost in transit. The cost price of goods lost is ` 40,000. The invoice value of goods sent out is: (a) '5,00,000 (b) 4,80,000 (c) 4,50,000 (d) '4,00,000? theory, EduRev gives you an
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