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X of kolkata sends out goods costing Rs, 100000 to consignee Y of Delhi. 3/5th of the goods were sold by consignee for Rs, 70, 000. Commission 2% on sales plus 20% of gross sales less all commission exceeds cost price. The amount of commission will be?.?A) 2833 B) 2900 C) 3000 D) 2800Answer is APlease someone explain me
Verified Answer
X of kolkata sends out goods costing Rs, 100000 to consignee Y of Delh...
Cost of goods sold = 3/5 * 1,00,000 = Rs. 60,000
Selling Price of goods sold = Rs. 70,000
Ordinary Commission = 2% on Rs. 70,000 = Rs. 1,400
Now, Let the extra commission be Rs. X
Therefore, According to Problem:
X = 20% [(70,000 - 1,400 - X) - 60,000]
or, X = 1/5 * (8,600 - X)
or, 5X = 8,600 - X
or, X = 8,600/6 = 1,433
Therefore, Total Commission = Rs. (1,400 + 1,433) = Rs. 2,833
This question is part of UPSC exam. View all CA Foundation courses
Most Upvoted Answer
X of kolkata sends out goods costing Rs, 100000 to consignee Y of Delh...
100000+25%=125000x3/5=75000
85000 X 2%=1700
X=20%(85000-1700-x-75000)
X=20%(8300-x)
X=1660-20x/100
1.2x=1660
X=1383.3333
1700+1383.33=3083.3
85000 X 2%=1700
X=20%(85000-1700-x-75000)
X=20%(8300-x)
X=1660-20x/100
1.2x=1660
X=1383.3333
1700+1383.33=3083.3
Community Answer
X of kolkata sends out goods costing Rs, 100000 to consignee Y of Delh...
To find the amount of commission earned by the consignee, we need to calculate the gross sales and subtract the cost price.
1. Calculating the Gross Sales:
- The consignee sold 3/5th of the goods for Rs. 70,000.
- So, the total sales would be (5/3) * Rs. 70,000 = Rs. 116,666.67 (approx).
2. Calculating the Commission:
- The commission is calculated as 2% on sales plus 20% of gross sales less all commission.
- Let's assume the amount of commission to be x.
- So, the commission earned would be (2% of sales) + (20% of (sales - commission)).
- Mathematically, it can be represented as: x = (0.02 * sales) + (0.20 * (sales - x)).
- Simplifying the equation: x = 0.02 * sales + 0.20 * sales - 0.20x.
- Combining like terms: 1.20x = 0.22 * sales.
- Dividing both sides by 1.20: x = (0.22 * sales) / 1.20.
- Substituting the value of sales: x = (0.22 * Rs. 116,666.67) / 1.20.
- Calculating the value: x = Rs. 2,833.33 (approx).
Therefore, the amount of commission earned by the consignee is approximately Rs. 2,833.33, which matches option A.
1. Calculating the Gross Sales:
- The consignee sold 3/5th of the goods for Rs. 70,000.
- So, the total sales would be (5/3) * Rs. 70,000 = Rs. 116,666.67 (approx).
2. Calculating the Commission:
- The commission is calculated as 2% on sales plus 20% of gross sales less all commission.
- Let's assume the amount of commission to be x.
- So, the commission earned would be (2% of sales) + (20% of (sales - commission)).
- Mathematically, it can be represented as: x = (0.02 * sales) + (0.20 * (sales - x)).
- Simplifying the equation: x = 0.02 * sales + 0.20 * sales - 0.20x.
- Combining like terms: 1.20x = 0.22 * sales.
- Dividing both sides by 1.20: x = (0.22 * sales) / 1.20.
- Substituting the value of sales: x = (0.22 * Rs. 116,666.67) / 1.20.
- Calculating the value: x = Rs. 2,833.33 (approx).
Therefore, the amount of commission earned by the consignee is approximately Rs. 2,833.33, which matches option A.
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X of kolkata sends out goods costing Rs, 100000 to consignee Y of Delhi. 3/5th of the goods were sold by consignee for Rs, 70, 000. Commission 2% on sales plus 20% of gross sales less all commission exceeds cost price. The amount of commission will be?.?A) 2833 B) 2900 C) 3000 D) 2800Answer is APlease someone explain me
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X of kolkata sends out goods costing Rs, 100000 to consignee Y of Delhi. 3/5th of the goods were sold by consignee for Rs, 70, 000. Commission 2% on sales plus 20% of gross sales less all commission exceeds cost price. The amount of commission will be?.?A) 2833 B) 2900 C) 3000 D) 2800Answer is APlease someone explain me 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 X of kolkata sends out goods costing Rs, 100000 to consignee Y of Delhi. 3/5th of the goods were sold by consignee for Rs, 70, 000. Commission 2% on sales plus 20% of gross sales less all commission exceeds cost price. The amount of commission will be?.?A) 2833 B) 2900 C) 3000 D) 2800Answer is APlease someone explain me covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X of kolkata sends out goods costing Rs, 100000 to consignee Y of Delhi. 3/5th of the goods were sold by consignee for Rs, 70, 000. Commission 2% on sales plus 20% of gross sales less all commission exceeds cost price. The amount of commission will be?.?A) 2833 B) 2900 C) 3000 D) 2800Answer is APlease someone explain me .
X of kolkata sends out goods costing Rs, 100000 to consignee Y of Delhi. 3/5th of the goods were sold by consignee for Rs, 70, 000. Commission 2% on sales plus 20% of gross sales less all commission exceeds cost price. The amount of commission will be?.?A) 2833 B) 2900 C) 3000 D) 2800Answer is APlease someone explain me 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 X of kolkata sends out goods costing Rs, 100000 to consignee Y of Delhi. 3/5th of the goods were sold by consignee for Rs, 70, 000. Commission 2% on sales plus 20% of gross sales less all commission exceeds cost price. The amount of commission will be?.?A) 2833 B) 2900 C) 3000 D) 2800Answer is APlease someone explain me covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X of kolkata sends out goods costing Rs, 100000 to consignee Y of Delhi. 3/5th of the goods were sold by consignee for Rs, 70, 000. Commission 2% on sales plus 20% of gross sales less all commission exceeds cost price. The amount of commission will be?.?A) 2833 B) 2900 C) 3000 D) 2800Answer is APlease someone explain me .
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