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Sold to kanika and co. goods costing rupees 1,00,000 at 20% profit allowing 10% trade discount and 5% cash disscount kanika and co. made 40% payment immediately by cheque?
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Sold to kanika and co. goods costing rupees 1,00,000 at 20% profit all...
Calculation of Cost Price:
The cost price of the goods is rupees 1,00,000.
Calculation of Selling Price:
To calculate the selling price, we need to consider the profit percentage, trade discount, and cash discount.
Profit Percentage:
The profit percentage is mentioned as 20%. To calculate the selling price, we need to add this profit percentage to the cost price.
Profit = Cost price × (Profit % / 100)
Profit = 1,00,000 × (20 / 100)
Profit = 20,000
Selling Price = Cost Price + Profit
Selling Price = 1,00,000 + 20,000
Selling Price = 1,20,000
Trade Discount:
The trade discount is mentioned as 10%. It is given as a percentage off the selling price. To calculate the amount of trade discount, we multiply the selling price by the trade discount percentage.
Trade Discount = Selling Price × (Trade Discount % / 100)
Trade Discount = 1,20,000 × (10 / 100)
Trade Discount = 12,000
Cash Discount:
The cash discount is mentioned as 5%. It is given as a percentage off the selling price after deducting the trade discount. To calculate the amount of cash discount, we multiply the selling price (after deducting the trade discount) by the cash discount percentage.
Selling Price after Trade Discount = Selling Price - Trade Discount
Selling Price after Trade Discount = 1,20,000 - 12,000
Selling Price after Trade Discount = 1,08,000
Cash Discount = Selling Price after Trade Discount × (Cash Discount % / 100)
Cash Discount = 1,08,000 × (5 / 100)
Cash Discount = 5,400
Amount Payable:
The amount payable is the selling price after deducting both the trade discount and the cash discount.
Amount Payable = Selling Price after Trade Discount - Cash Discount
Amount Payable = 1,08,000 - 5,400
Amount Payable = 1,02,600
Payment by Cheque:
Kanika and Co. made 40% payment immediately by cheque. To calculate the payment made by cheque, we multiply the amount payable by the payment percentage.
Payment by Cheque = Amount Payable × (Payment % / 100)
Payment by Cheque = 1,02,600 × (40 / 100)
Payment by Cheque = 41,040
Therefore, Kanika and Co. made a payment of rupees 41,040 immediately by cheque.
The cost price of the goods is rupees 1,00,000.
Calculation of Selling Price:
To calculate the selling price, we need to consider the profit percentage, trade discount, and cash discount.
Profit Percentage:
The profit percentage is mentioned as 20%. To calculate the selling price, we need to add this profit percentage to the cost price.
Profit = Cost price × (Profit % / 100)
Profit = 1,00,000 × (20 / 100)
Profit = 20,000
Selling Price = Cost Price + Profit
Selling Price = 1,00,000 + 20,000
Selling Price = 1,20,000
Trade Discount:
The trade discount is mentioned as 10%. It is given as a percentage off the selling price. To calculate the amount of trade discount, we multiply the selling price by the trade discount percentage.
Trade Discount = Selling Price × (Trade Discount % / 100)
Trade Discount = 1,20,000 × (10 / 100)
Trade Discount = 12,000
Cash Discount:
The cash discount is mentioned as 5%. It is given as a percentage off the selling price after deducting the trade discount. To calculate the amount of cash discount, we multiply the selling price (after deducting the trade discount) by the cash discount percentage.
Selling Price after Trade Discount = Selling Price - Trade Discount
Selling Price after Trade Discount = 1,20,000 - 12,000
Selling Price after Trade Discount = 1,08,000
Cash Discount = Selling Price after Trade Discount × (Cash Discount % / 100)
Cash Discount = 1,08,000 × (5 / 100)
Cash Discount = 5,400
Amount Payable:
The amount payable is the selling price after deducting both the trade discount and the cash discount.
Amount Payable = Selling Price after Trade Discount - Cash Discount
Amount Payable = 1,08,000 - 5,400
Amount Payable = 1,02,600
Payment by Cheque:
Kanika and Co. made 40% payment immediately by cheque. To calculate the payment made by cheque, we multiply the amount payable by the payment percentage.
Payment by Cheque = Amount Payable × (Payment % / 100)
Payment by Cheque = 1,02,600 × (40 / 100)
Payment by Cheque = 41,040
Therefore, Kanika and Co. made a payment of rupees 41,040 immediately by cheque.
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Sold to kanika and co. goods costing rupees 1,00,000 at 20% profit allowing 10% trade discount and 5% cash disscount kanika and co. made 40% payment immediately by cheque?
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Sold to kanika and co. goods costing rupees 1,00,000 at 20% profit allowing 10% trade discount and 5% cash disscount kanika and co. made 40% payment immediately by cheque? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about Sold to kanika and co. goods costing rupees 1,00,000 at 20% profit allowing 10% trade discount and 5% cash disscount kanika and co. made 40% payment immediately by cheque? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sold to kanika and co. goods costing rupees 1,00,000 at 20% profit allowing 10% trade discount and 5% cash disscount kanika and co. made 40% payment immediately by cheque?.
Sold to kanika and co. goods costing rupees 1,00,000 at 20% profit allowing 10% trade discount and 5% cash disscount kanika and co. made 40% payment immediately by cheque? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about Sold to kanika and co. goods costing rupees 1,00,000 at 20% profit allowing 10% trade discount and 5% cash disscount kanika and co. made 40% payment immediately by cheque? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sold to kanika and co. goods costing rupees 1,00,000 at 20% profit allowing 10% trade discount and 5% cash disscount kanika and co. made 40% payment immediately by cheque?.
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