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Bought goods at list price of 25000 from mohan less 20% trade discount and 2% cash discount and paid 40 %by cheque immediately?
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Bought goods at list price of 25000 from mohan less 20% trade discount...
Calculation of the Purchase Price
The list price of the goods = 25000
Trade discount = 20%
Cash discount = 2%
Calculation of Trade Discount
Trade discount = List price x Trade discount rate
Trade discount = 25000 x 20/100
Trade discount = 5000
Calculation of Net Price
Net price = List price - Trade discount
Net price = 25000 - 5000
Net price = 20000
Calculation of Cash Discount
Cash discount = Net price x Cash discount rate
Cash discount = 20000 x 2/100
Cash discount = 400
Calculation of Amount Paid by Cheque
Amount paid by cheque = Net price - Cash discount
Amount paid by cheque = 20000 - 400
Amount paid by cheque = 19600
Calculation of Amount Paid in Cash
Amount paid in cash = Net price x Cash paid percentage
Amount paid in cash = 20000 x 40/100
Amount paid in cash = 8000
Calculation of Total Amount Paid
Total amount paid = Amount paid by cheque + Amount paid in cash
Total amount paid = 19600 + 8000
Total amount paid = 27600
Therefore, the purchase price of the goods after applying the trade and cash discounts and making the payment of 40% by cheque immediately is INR 27600.
Community Answer
Bought goods at list price of 25000 from mohan less 20% trade discount...
The trade discount is 5000
The cash discount amounted to 400
The tolat amount paid is 7840
The cash discount amounted to 400
The tolat amount paid is 7840
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Bought goods at list price of 25000 from mohan less 20% trade discount and 2% cash discount and paid 40 %by cheque immediately?
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Bought goods at list price of 25000 from mohan less 20% trade discount and 2% cash discount and paid 40 %by cheque immediately? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Bought goods at list price of 25000 from mohan less 20% trade discount and 2% cash discount and paid 40 %by cheque immediately? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Bought goods at list price of 25000 from mohan less 20% trade discount and 2% cash discount and paid 40 %by cheque immediately?.
Bought goods at list price of 25000 from mohan less 20% trade discount and 2% cash discount and paid 40 %by cheque immediately? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Bought goods at list price of 25000 from mohan less 20% trade discount and 2% cash discount and paid 40 %by cheque immediately? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Bought goods at list price of 25000 from mohan less 20% trade discount and 2% cash discount and paid 40 %by cheque immediately?.
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