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Goods sold to satya Prakash costing Rs 20000 at a profit of 20% on sales, less 10% trade discount and paid cartage of Rs 100?
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Goods sold to satya Prakash costing Rs 20000 at a profit of 20% on sal...
Calculation of Cost of Goods Sold
The cost of goods sold can be calculated as follows:
Cost Price = Selling Price / (1 + Profit %)
Cost Price = 20000 / (1 + 20%) = Rs. 16666.67
Application of Trade Discount
The trade discount of 10% is applied on the selling price of Rs. 20000:
Trade Discount = Selling Price x Trade Discount %
Trade Discount = 20000 x 10% = Rs. 2000
Calculation of Net Selling Price
The net selling price is calculated by subtracting the trade discount from the selling price:
Net Selling Price = Selling Price - Trade Discount
Net Selling Price = 20000 - 2000 = Rs. 18000
Calculation of Gross Profit
The gross profit is calculated as a percentage of the net selling price:
Gross Profit = Profit % x Net Selling Price
Gross Profit = 20% x 18000 = Rs. 3600
Calculation of Cost of Goods Sold plus Cartage
The cost of goods sold is increased by the cartage paid:
Cost of Goods Sold plus Cartage = Cost Price + Cartage
Cost of Goods Sold plus Cartage = 16666.67 + 100 = Rs. 16766.67
Final Profit Calculation
The final profit is calculated by subtracting the cost of goods sold plus cartage from the net selling price:
Profit = Net Selling Price - Cost of Goods Sold plus Cartage
Profit = 18000 - 16766.67 = Rs. 1233.33
Thus, the profit earned on the sale of goods to Satya Prakash is Rs. 1233.33.
The cost of goods sold can be calculated as follows:
Cost Price = Selling Price / (1 + Profit %)
Cost Price = 20000 / (1 + 20%) = Rs. 16666.67
Application of Trade Discount
The trade discount of 10% is applied on the selling price of Rs. 20000:
Trade Discount = Selling Price x Trade Discount %
Trade Discount = 20000 x 10% = Rs. 2000
Calculation of Net Selling Price
The net selling price is calculated by subtracting the trade discount from the selling price:
Net Selling Price = Selling Price - Trade Discount
Net Selling Price = 20000 - 2000 = Rs. 18000
Calculation of Gross Profit
The gross profit is calculated as a percentage of the net selling price:
Gross Profit = Profit % x Net Selling Price
Gross Profit = 20% x 18000 = Rs. 3600
Calculation of Cost of Goods Sold plus Cartage
The cost of goods sold is increased by the cartage paid:
Cost of Goods Sold plus Cartage = Cost Price + Cartage
Cost of Goods Sold plus Cartage = 16666.67 + 100 = Rs. 16766.67
Final Profit Calculation
The final profit is calculated by subtracting the cost of goods sold plus cartage from the net selling price:
Profit = Net Selling Price - Cost of Goods Sold plus Cartage
Profit = 18000 - 16766.67 = Rs. 1233.33
Thus, the profit earned on the sale of goods to Satya Prakash is Rs. 1233.33.
Community Answer
Goods sold to satya Prakash costing Rs 20000 at a profit of 20% on sal...
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Goods sold to satya Prakash costing Rs 20000 at a profit of 20% on sales, less 10% trade discount and paid cartage of Rs 100?
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Goods sold to satya Prakash costing Rs 20000 at a profit of 20% on sales, less 10% trade discount and paid cartage of Rs 100? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Goods sold to satya Prakash costing Rs 20000 at a profit of 20% on sales, less 10% trade discount and paid cartage of Rs 100? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Goods sold to satya Prakash costing Rs 20000 at a profit of 20% on sales, less 10% trade discount and paid cartage of Rs 100?.
Goods sold to satya Prakash costing Rs 20000 at a profit of 20% on sales, less 10% trade discount and paid cartage of Rs 100? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Goods sold to satya Prakash costing Rs 20000 at a profit of 20% on sales, less 10% trade discount and paid cartage of Rs 100? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Goods sold to satya Prakash costing Rs 20000 at a profit of 20% on sales, less 10% trade discount and paid cartage of Rs 100?.
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