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Sold goods costing Rs.40,000 to Anita for cash at a profit of 20% on sales less 10% trade discount and charged 8% GST.?
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Sold goods costing Rs.40,000 to Anita for cash at a profit of 20% on s...
Cost of Goods Sold
The initial cost of the goods sold to Anita is Rs. 40,000.
Profit Calculation
- The profit percentage is 20% on sales.
- To find the selling price (SP), we first calculate the profit:
Profit = Cost × Profit Percentage
Profit = Rs. 40,000 × 20% = Rs. 8,000
- Thus, the selling price before any discounts is:
SP = Cost + Profit
SP = Rs. 40,000 + Rs. 8,000 = Rs. 48,000
Trade Discount Application
- A trade discount of 10% is applied on the selling price.
Trade Discount = SP × Trade Discount Percentage
Trade Discount = Rs. 48,000 × 10% = Rs. 4,800
- The selling price after trade discount becomes:
SP after Trade Discount = SP - Trade Discount
SP after Trade Discount = Rs. 48,000 - Rs. 4,800 = Rs. 43,200
GST Calculation
- An 8% GST is charged on the selling price after the trade discount.
GST = SP after Trade Discount × GST Percentage
GST = Rs. 43,200 × 8% = Rs. 3,456
Total Amount Payable
- Finally, the total amount Anita pays is the selling price after the trade discount plus GST:
Total Amount = SP after Trade Discount + GST
Total Amount = Rs. 43,200 + Rs. 3,456 = Rs. 46,656
In conclusion, Anita pays a total of Rs. 46,656 for the goods.
The initial cost of the goods sold to Anita is Rs. 40,000.
Profit Calculation
- The profit percentage is 20% on sales.
- To find the selling price (SP), we first calculate the profit:
Profit = Cost × Profit Percentage
Profit = Rs. 40,000 × 20% = Rs. 8,000
- Thus, the selling price before any discounts is:
SP = Cost + Profit
SP = Rs. 40,000 + Rs. 8,000 = Rs. 48,000
Trade Discount Application
- A trade discount of 10% is applied on the selling price.
Trade Discount = SP × Trade Discount Percentage
Trade Discount = Rs. 48,000 × 10% = Rs. 4,800
- The selling price after trade discount becomes:
SP after Trade Discount = SP - Trade Discount
SP after Trade Discount = Rs. 48,000 - Rs. 4,800 = Rs. 43,200
GST Calculation
- An 8% GST is charged on the selling price after the trade discount.
GST = SP after Trade Discount × GST Percentage
GST = Rs. 43,200 × 8% = Rs. 3,456
Total Amount Payable
- Finally, the total amount Anita pays is the selling price after the trade discount plus GST:
Total Amount = SP after Trade Discount + GST
Total Amount = Rs. 43,200 + Rs. 3,456 = Rs. 46,656
In conclusion, Anita pays a total of Rs. 46,656 for the goods.
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Sold goods costing Rs.40,000 to Anita for cash at a profit of 20% on sales less 10% trade discount and charged 8% GST.?
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Sold goods costing Rs.40,000 to Anita for cash at a profit of 20% on sales less 10% trade discount and charged 8% GST.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Sold goods costing Rs.40,000 to Anita for cash at a profit of 20% on sales less 10% trade discount and charged 8% GST.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sold goods costing Rs.40,000 to Anita for cash at a profit of 20% on sales less 10% trade discount and charged 8% GST.?.
Sold goods costing Rs.40,000 to Anita for cash at a profit of 20% on sales less 10% trade discount and charged 8% GST.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Sold goods costing Rs.40,000 to Anita for cash at a profit of 20% on sales less 10% trade discount and charged 8% GST.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sold goods costing Rs.40,000 to Anita for cash at a profit of 20% on sales less 10% trade discount and charged 8% GST.?.
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