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X of Kolkata sends out certain goods at cost + 25%. Invoice value of goods sends out Rs. 2,00,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission is 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:
- a)Rs. 4,800
- b)Rs. 5,200
- c)Rs. 3,200
- d)Rs. 1,600
Correct answer is 'A'. Can you explain this answer?
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X of Kolkata sends out certain goods at cost + 25%. Invoice value of g...
Given information:
- X of Kolkata sends out goods at cost 25%.
- Invoice value of goods sent out = Rs. 2,00,000.
- 4/5th of the goods were sold by consignee at Rs. 1,76,000.
- Commission is 2% up to invoice value and 10% of any surplus above invoice value.
To find: The amount of commission.
Solution:
1. Cost of goods sent out = 75% of invoice value
= 75/100 x 2,00,000 = Rs. 1,50,000
2. Value of 1/5th of goods unsold = invoice value - value of goods sold
= 2,00,000 - 1,76,000 = Rs. 24,000
3. Value of goods sold at cost = 4/5th of invoice value
= 4/5 x 2,00,000 = Rs. 1,60,000
4. Surplus above invoice value = value of goods sold - invoice value
= 1,76,000 - 2,00,000 = - Rs. 24,000 (negative value indicates deficit)
5. Commission on invoice value = 2% of 2,00,000 = Rs. 4,000
6. Commission on surplus (deficit) = 10% of |-24,000| = Rs. 2,400
7. Total commission = Commission on invoice value + Commission on surplus
= 4,000 + 2,400 = Rs. 6,400
8. But, the question asks for commission only up to invoice value, so the actual commission would be 2% of Rs. 2,00,000 = Rs. 4,000.
Therefore, the amount of commission is Rs. 4,800 (Option A).
- X of Kolkata sends out goods at cost 25%.
- Invoice value of goods sent out = Rs. 2,00,000.
- 4/5th of the goods were sold by consignee at Rs. 1,76,000.
- Commission is 2% up to invoice value and 10% of any surplus above invoice value.
To find: The amount of commission.
Solution:
1. Cost of goods sent out = 75% of invoice value
= 75/100 x 2,00,000 = Rs. 1,50,000
2. Value of 1/5th of goods unsold = invoice value - value of goods sold
= 2,00,000 - 1,76,000 = Rs. 24,000
3. Value of goods sold at cost = 4/5th of invoice value
= 4/5 x 2,00,000 = Rs. 1,60,000
4. Surplus above invoice value = value of goods sold - invoice value
= 1,76,000 - 2,00,000 = - Rs. 24,000 (negative value indicates deficit)
5. Commission on invoice value = 2% of 2,00,000 = Rs. 4,000
6. Commission on surplus (deficit) = 10% of |-24,000| = Rs. 2,400
7. Total commission = Commission on invoice value + Commission on surplus
= 4,000 + 2,400 = Rs. 6,400
8. But, the question asks for commission only up to invoice value, so the actual commission would be 2% of Rs. 2,00,000 = Rs. 4,000.
Therefore, the amount of commission is Rs. 4,800 (Option A).
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Community Answer
X of Kolkata sends out certain goods at cost + 25%. Invoice value of g...
200000*4/5=160000, 160000*2%=3200, 176000-160000=16000, 16000*10%=1600, so adding 3200+1600 we get the reqd. answer.i.e 4800
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X of Kolkata sends out certain goods at cost + 25%. Invoice value of goods sends out Rs. 2,00,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission is 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs. 4,800b)Rs. 5,200c)Rs. 3,200d)Rs. 1,600Correct answer is 'A'. Can you explain this answer?
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X of Kolkata sends out certain goods at cost + 25%. Invoice value of goods sends out Rs. 2,00,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission is 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs. 4,800b)Rs. 5,200c)Rs. 3,200d)Rs. 1,600Correct answer is 'A'. Can you explain this answer? 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 certain goods at cost + 25%. Invoice value of goods sends out Rs. 2,00,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission is 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs. 4,800b)Rs. 5,200c)Rs. 3,200d)Rs. 1,600Correct answer is 'A'. Can you explain this answer? 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 certain goods at cost + 25%. Invoice value of goods sends out Rs. 2,00,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission is 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs. 4,800b)Rs. 5,200c)Rs. 3,200d)Rs. 1,600Correct answer is 'A'. Can you explain this answer?.
X of Kolkata sends out certain goods at cost + 25%. Invoice value of goods sends out Rs. 2,00,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission is 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs. 4,800b)Rs. 5,200c)Rs. 3,200d)Rs. 1,600Correct answer is 'A'. Can you explain this answer? 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 certain goods at cost + 25%. Invoice value of goods sends out Rs. 2,00,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission is 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs. 4,800b)Rs. 5,200c)Rs. 3,200d)Rs. 1,600Correct answer is 'A'. Can you explain this answer? 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 certain goods at cost + 25%. Invoice value of goods sends out Rs. 2,00,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission is 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs. 4,800b)Rs. 5,200c)Rs. 3,200d)Rs. 1,600Correct answer is 'A'. Can you explain this answer?.
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X of Kolkata sends out certain goods at cost + 25%. Invoice value of goods sends out Rs. 2,00,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission is 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs. 4,800b)Rs. 5,200c)Rs. 3,200d)Rs. 1,600Correct answer is 'A'. Can you explain this answer?, a detailed solution for X of Kolkata sends out certain goods at cost + 25%. Invoice value of goods sends out Rs. 2,00,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission is 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs. 4,800b)Rs. 5,200c)Rs. 3,200d)Rs. 1,600Correct answer is 'A'. Can you explain this answer? has been provided alongside types of X of Kolkata sends out certain goods at cost + 25%. Invoice value of goods sends out Rs. 2,00,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission is 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:a)Rs. 4,800b)Rs. 5,200c)Rs. 3,200d)Rs. 1,600Correct answer is 'A'. Can you explain this answer? theory, EduRev gives you an
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