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Sold pesonal investment and invest in business Rs.50,000
Mittal Bros. purchased 100 shawls @ 3,000 per shawl. Allowed 10% Trade Discount ogle Le and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawls of poor quality, which it returned. Mittal Bros. settled the payment in 10 days.?
Mittal Bros. purchased 100 shawls @ 3,000 per shawl. Allowed 10% Trade Discount ogle Le and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawls of poor quality, which it returned. Mittal Bros. settled the payment in 10 days.?
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Sold pesonal investment and invest in business Rs.50,000Mittal Bros. p...
Transaction Overview
Mittal Bros. engaged in a business transaction involving the purchase of 100 shawls at a unit price of Rs. 3,000. The total cost before any discounts is calculated as follows:
- Total Cost: 100 shawls x Rs. 3,000 = Rs. 300,000
Discounts Applied
1. Trade Discount: A 10% trade discount is applied on the total cost.
- Trade Discount Amount: 10% of Rs. 300,000 = Rs. 30,000
- Net Cost After Trade Discount: Rs. 300,000 - Rs. 30,000 = Rs. 270,000
2. Cash Discount: Since payment is made within 14 days, a 3% cash discount is applicable.
- Cash Discount Amount: 3% of Rs. 270,000 = Rs. 8,100
- Final Payment Amount: Rs. 270,000 - Rs. 8,100 = Rs. 261,900
Return of Poor Quality Shawls
Mittal Bros. received 10 shawls of poor quality and opted to return them. The calculation for the returned items is as follows:
- Value of Returned Shawls: 10 shawls x Rs. 3,000 = Rs. 30,000
- Adjusted Cost Before Discounts: Rs. 300,000 - Rs. 30,000 = Rs. 270,000 (same as calculated above)
Final Adjusted Payment
After applying the trade and cash discounts to the adjusted cost:
- Net Cost After Trade Discount: Rs. 270,000 (unchanged)
- Cash Discount: Still applicable on Rs. 270,000, leading to the same final payment amount.
- Final Amount Payable: Rs. 261,900
In summary, after applying all discounts and considering the returns, Mittal Bros. settled a total of Rs. 261,900 for the shawls purchased.
Mittal Bros. engaged in a business transaction involving the purchase of 100 shawls at a unit price of Rs. 3,000. The total cost before any discounts is calculated as follows:
- Total Cost: 100 shawls x Rs. 3,000 = Rs. 300,000
Discounts Applied
1. Trade Discount: A 10% trade discount is applied on the total cost.
- Trade Discount Amount: 10% of Rs. 300,000 = Rs. 30,000
- Net Cost After Trade Discount: Rs. 300,000 - Rs. 30,000 = Rs. 270,000
2. Cash Discount: Since payment is made within 14 days, a 3% cash discount is applicable.
- Cash Discount Amount: 3% of Rs. 270,000 = Rs. 8,100
- Final Payment Amount: Rs. 270,000 - Rs. 8,100 = Rs. 261,900
Return of Poor Quality Shawls
Mittal Bros. received 10 shawls of poor quality and opted to return them. The calculation for the returned items is as follows:
- Value of Returned Shawls: 10 shawls x Rs. 3,000 = Rs. 30,000
- Adjusted Cost Before Discounts: Rs. 300,000 - Rs. 30,000 = Rs. 270,000 (same as calculated above)
Final Adjusted Payment
After applying the trade and cash discounts to the adjusted cost:
- Net Cost After Trade Discount: Rs. 270,000 (unchanged)
- Cash Discount: Still applicable on Rs. 270,000, leading to the same final payment amount.
- Final Amount Payable: Rs. 261,900
In summary, after applying all discounts and considering the returns, Mittal Bros. settled a total of Rs. 261,900 for the shawls purchased.
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Sold pesonal investment and invest in business Rs.50,000Mittal Bros. purchased 100 shawls @ 3,000 per shawl. Allowed 10% Trade Discount ogle Le and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawls of poor quality, which it returned. Mittal Bros. settled the payment in 10 days.?
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Sold pesonal investment and invest in business Rs.50,000Mittal Bros. purchased 100 shawls @ 3,000 per shawl. Allowed 10% Trade Discount ogle Le and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawls of poor quality, which it returned. Mittal Bros. settled the payment in 10 days.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Sold pesonal investment and invest in business Rs.50,000Mittal Bros. purchased 100 shawls @ 3,000 per shawl. Allowed 10% Trade Discount ogle Le and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawls of poor quality, which it returned. Mittal Bros. settled the payment in 10 days.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sold pesonal investment and invest in business Rs.50,000Mittal Bros. purchased 100 shawls @ 3,000 per shawl. Allowed 10% Trade Discount ogle Le and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawls of poor quality, which it returned. Mittal Bros. settled the payment in 10 days.?.
Sold pesonal investment and invest in business Rs.50,000Mittal Bros. purchased 100 shawls @ 3,000 per shawl. Allowed 10% Trade Discount ogle Le and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawls of poor quality, which it returned. Mittal Bros. settled the payment in 10 days.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Sold pesonal investment and invest in business Rs.50,000Mittal Bros. purchased 100 shawls @ 3,000 per shawl. Allowed 10% Trade Discount ogle Le and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawls of poor quality, which it returned. Mittal Bros. settled the payment in 10 days.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sold pesonal investment and invest in business Rs.50,000Mittal Bros. purchased 100 shawls @ 3,000 per shawl. Allowed 10% Trade Discount ogle Le and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawls of poor quality, which it returned. Mittal Bros. settled the payment in 10 days.?.
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