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On 31st March 2016, Suraj has to pay to M/s Chandr a and Co. Rs. 7,000 on account of credit purchase from the later. He paid Rs. 1,800 on 30th June 2016 after availing a cash discount of 10%. On 30th September 2016, he paid Rs. 2,850 after availing 5% cash discount. On account of final settlement, the amount to be paid by Suraj without any discount will be
- a)Rs. 2,350
- b)Rs. 2,000
- c)Rs. 2,200
- d)Rs. 2,150
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
On 31st March 2016, Suraj has to pay to M/s Chandr a and Co. Rs. 7,000...
Calculation of Total Payment:
Total Payment = Rs. 7,000
Payment Made on 30th June 2016:
Amount Paid = Rs. 1,800
Cash Discount = 10%
Payment Made after Discount = Amount Paid - (Amount Paid x Discount %)
Payment Made after Discount = 1,800 - (1,800 x 10%)
Payment Made after Discount = Rs. 1,620
Outstanding Amount = Total Payment - Payment Made after Discount
Outstanding Amount = 7,000 - 1,620
Outstanding Amount = Rs. 5,380
Payment Made on 30th September 2016:
Amount Paid = Rs. 2,850
Cash Discount = 5%
Payment Made after Discount = Amount Paid - (Amount Paid x Discount %)
Payment Made after Discount = 2,850 - (2,850 x 5%)
Payment Made after Discount = Rs. 2,707.50
Outstanding Amount = Outstanding Amount - Payment Made after Discount
Outstanding Amount = 5,380 - 2,707.50
Outstanding Amount = Rs. 2,672.50
Final Settlement:
Amount to be Paid without any Discount = Outstanding Amount
Amount to be Paid without any Discount = Rs. 2,672.50
Therefore, option B, Rs. 2,000, is the correct answer.
Total Payment = Rs. 7,000
Payment Made on 30th June 2016:
Amount Paid = Rs. 1,800
Cash Discount = 10%
Payment Made after Discount = Amount Paid - (Amount Paid x Discount %)
Payment Made after Discount = 1,800 - (1,800 x 10%)
Payment Made after Discount = Rs. 1,620
Outstanding Amount = Total Payment - Payment Made after Discount
Outstanding Amount = 7,000 - 1,620
Outstanding Amount = Rs. 5,380
Payment Made on 30th September 2016:
Amount Paid = Rs. 2,850
Cash Discount = 5%
Payment Made after Discount = Amount Paid - (Amount Paid x Discount %)
Payment Made after Discount = 2,850 - (2,850 x 5%)
Payment Made after Discount = Rs. 2,707.50
Outstanding Amount = Outstanding Amount - Payment Made after Discount
Outstanding Amount = 5,380 - 2,707.50
Outstanding Amount = Rs. 2,672.50
Final Settlement:
Amount to be Paid without any Discount = Outstanding Amount
Amount to be Paid without any Discount = Rs. 2,672.50
Therefore, option B, Rs. 2,000, is the correct answer.
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Community Answer
On 31st March 2016, Suraj has to pay to M/s Chandr a and Co. Rs. 7,000...
To find the amount to be paid by Suraj without any discount, let's follow these steps:
1. Calculate the amount paid after availing discounts:
- On 30th June 2016, Suraj paid Rs. 1,800 after availing a 10% cash discount. To find the original amount before the discount, we can calculate as follows:
Original amount = Amount paid / (1 - Discount rate)
Original amount = 1,800 / (1 - 0.10) = 1,800 / 0.90 = Rs. 2,000
- On 30th September 2016, Suraj paid Rs. 2,850 after availing a 5% cash discount. To find the original amount before the discount, we can calculate as follows:
Original amount = Amount paid / (1 - Discount rate)
Original amount = 2,850 / (1 - 0.05) = 2,850 / 0.95 = Rs. 3,000
2. Calculate the total amount paid so far:
Total amount paid = Amount paid on 30th June + Amount paid on 30th September
Total amount paid = Rs. 2,000 + Rs. 3,000 = Rs. 5,000
3. Calculate the remaining amount to be paid:
Remaining amount = Total credit purchase - Total amount paid
Remaining amount = Rs. 7,000 - Rs. 5,000 = Rs. 2,000
So, the amount to be paid by Suraj without any discount on account of final settlement is Rs. 2,000
1. Calculate the amount paid after availing discounts:
- On 30th June 2016, Suraj paid Rs. 1,800 after availing a 10% cash discount. To find the original amount before the discount, we can calculate as follows:
Original amount = Amount paid / (1 - Discount rate)
Original amount = 1,800 / (1 - 0.10) = 1,800 / 0.90 = Rs. 2,000
- On 30th September 2016, Suraj paid Rs. 2,850 after availing a 5% cash discount. To find the original amount before the discount, we can calculate as follows:
Original amount = Amount paid / (1 - Discount rate)
Original amount = 2,850 / (1 - 0.05) = 2,850 / 0.95 = Rs. 3,000
2. Calculate the total amount paid so far:
Total amount paid = Amount paid on 30th June + Amount paid on 30th September
Total amount paid = Rs. 2,000 + Rs. 3,000 = Rs. 5,000
3. Calculate the remaining amount to be paid:
Remaining amount = Total credit purchase - Total amount paid
Remaining amount = Rs. 7,000 - Rs. 5,000 = Rs. 2,000
So, the amount to be paid by Suraj without any discount on account of final settlement is Rs. 2,000
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On 31st March 2016, Suraj has to pay to M/s Chandr a and Co. Rs. 7,000 on account of credit purchase from the later. He paid Rs. 1,800 on 30th June 2016 after availing a cash discount of 10%. On 30th September 2016, he paid Rs. 2,850 after availing 5% cash discount. On account of final settlement, the amount to be paid by Suraj without any discount will bea)Rs. 2,350b)Rs. 2,000c)Rs. 2,200d)Rs. 2,150Correct answer is option 'B'. Can you explain this answer?
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On 31st March 2016, Suraj has to pay to M/s Chandr a and Co. Rs. 7,000 on account of credit purchase from the later. He paid Rs. 1,800 on 30th June 2016 after availing a cash discount of 10%. On 30th September 2016, he paid Rs. 2,850 after availing 5% cash discount. On account of final settlement, the amount to be paid by Suraj without any discount will bea)Rs. 2,350b)Rs. 2,000c)Rs. 2,200d)Rs. 2,150Correct answer is option 'B'. 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 On 31st March 2016, Suraj has to pay to M/s Chandr a and Co. Rs. 7,000 on account of credit purchase from the later. He paid Rs. 1,800 on 30th June 2016 after availing a cash discount of 10%. On 30th September 2016, he paid Rs. 2,850 after availing 5% cash discount. On account of final settlement, the amount to be paid by Suraj without any discount will bea)Rs. 2,350b)Rs. 2,000c)Rs. 2,200d)Rs. 2,150Correct answer is option 'B'. 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 On 31st March 2016, Suraj has to pay to M/s Chandr a and Co. Rs. 7,000 on account of credit purchase from the later. He paid Rs. 1,800 on 30th June 2016 after availing a cash discount of 10%. On 30th September 2016, he paid Rs. 2,850 after availing 5% cash discount. On account of final settlement, the amount to be paid by Suraj without any discount will bea)Rs. 2,350b)Rs. 2,000c)Rs. 2,200d)Rs. 2,150Correct answer is option 'B'. Can you explain this answer?.
On 31st March 2016, Suraj has to pay to M/s Chandr a and Co. Rs. 7,000 on account of credit purchase from the later. He paid Rs. 1,800 on 30th June 2016 after availing a cash discount of 10%. On 30th September 2016, he paid Rs. 2,850 after availing 5% cash discount. On account of final settlement, the amount to be paid by Suraj without any discount will bea)Rs. 2,350b)Rs. 2,000c)Rs. 2,200d)Rs. 2,150Correct answer is option 'B'. 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 On 31st March 2016, Suraj has to pay to M/s Chandr a and Co. Rs. 7,000 on account of credit purchase from the later. He paid Rs. 1,800 on 30th June 2016 after availing a cash discount of 10%. On 30th September 2016, he paid Rs. 2,850 after availing 5% cash discount. On account of final settlement, the amount to be paid by Suraj without any discount will bea)Rs. 2,350b)Rs. 2,000c)Rs. 2,200d)Rs. 2,150Correct answer is option 'B'. 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 On 31st March 2016, Suraj has to pay to M/s Chandr a and Co. Rs. 7,000 on account of credit purchase from the later. He paid Rs. 1,800 on 30th June 2016 after availing a cash discount of 10%. On 30th September 2016, he paid Rs. 2,850 after availing 5% cash discount. On account of final settlement, the amount to be paid by Suraj without any discount will bea)Rs. 2,350b)Rs. 2,000c)Rs. 2,200d)Rs. 2,150Correct answer is option 'B'. Can you explain this answer?.
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