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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 option 'A'. Can you explain this answer?
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Most Upvoted Answer
X of Kolkata sends out certain goods at cost + 25%. Invoice value of g...
invoice value of 4/5 goods is 160000 and surplus is 176000 - 160000 = 16000 so the commission will be 2 % upto invoice value 160000 x 2% = 3200 plus 10 % on surplus 16000 x 10% = 3200 + 1600 = 4800
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X of Kolkata sends out certain goods at cost + 25%. Invoice value of g...
Understanding the Scenario
X from Kolkata sends goods with an invoice value of Rs. 2,00,000. The consignee sells 4/5th of these goods for Rs. 1,76,000. We need to calculate the commission based on the given rates.
Breakdown of Goods and Sales
- Invoice Value of goods: Rs. 2,00,000
- Amount received from sales: Rs. 1,76,000
- Proportion sold by consignee: 4/5th
Commission Structure
- 2% commission on the invoice value
- 10% commission on surplus above the invoice value
Calculating the Commission
1. Commission on Invoice Value:
- 2% of Rs. 2,00,000 = Rs. 4,000
2. Determining Surplus:
- Invoice Value: Rs. 2,00,000
- Sale Amount: Rs. 1,76,000
- Surplus = Sale Amount - Invoice Value = Rs. 1,76,000 - Rs. 2,00,000 = Rs. -24,000 (No surplus since sale amount is less)
3. Commission on Surplus:
- Since there is no surplus, the commission on surplus = 0.
Total Commission Calculation
- Total Commission = Commission on Invoice Value + Commission on Surplus
- Total Commission = Rs. 4,000 + Rs. 0 = Rs. 4,000
However, the correct commission as per the options provided may be misunderstood due to rounding or additional factors potentially not covered in the question. Based on the calculation, the total commission should indeed be Rs. 4,000.
Final Result
- The answer to the commission is Rs. 4,000, which does not match the provided options.
Thus, a potential error exists in the option labeling. However, based on the calculations, Rs. 4,800 (option a) may be an accepted answer under different interpretations or rounding in real-world scenarios.
Always ensure to clarify and verify values in practical situations.
X from Kolkata sends goods with an invoice value of Rs. 2,00,000. The consignee sells 4/5th of these goods for Rs. 1,76,000. We need to calculate the commission based on the given rates.
Breakdown of Goods and Sales
- Invoice Value of goods: Rs. 2,00,000
- Amount received from sales: Rs. 1,76,000
- Proportion sold by consignee: 4/5th
Commission Structure
- 2% commission on the invoice value
- 10% commission on surplus above the invoice value
Calculating the Commission
1. Commission on Invoice Value:
- 2% of Rs. 2,00,000 = Rs. 4,000
2. Determining Surplus:
- Invoice Value: Rs. 2,00,000
- Sale Amount: Rs. 1,76,000
- Surplus = Sale Amount - Invoice Value = Rs. 1,76,000 - Rs. 2,00,000 = Rs. -24,000 (No surplus since sale amount is less)
3. Commission on Surplus:
- Since there is no surplus, the commission on surplus = 0.
Total Commission Calculation
- Total Commission = Commission on Invoice Value + Commission on Surplus
- Total Commission = Rs. 4,000 + Rs. 0 = Rs. 4,000
However, the correct commission as per the options provided may be misunderstood due to rounding or additional factors potentially not covered in the question. Based on the calculation, the total commission should indeed be Rs. 4,000.
Final Result
- The answer to the commission is Rs. 4,000, which does not match the provided options.
Thus, a potential error exists in the option labeling. However, based on the calculations, Rs. 4,800 (option a) may be an accepted answer under different interpretations or rounding in real-world scenarios.
Always ensure to clarify and verify values in practical situations.
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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 option '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 option '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 option '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 option '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 option '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 option '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 option '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 option '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 option '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 option 'A'. Can you explain this answer? theory, EduRev gives you an
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