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Sold personal investment and invested in business Rs.5,00,000.
2. Mittal Bros. purchased 100 shawls @ Rs.3,000 per shawl, allowed 10% Trade Discount and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawl of poor quality, which is returned. Mittal Bros, settled the payment within 10 days.
3. Sold to Ajay and Sons 100 shawls @ Rs.200 per shawl on 4th January, 2020. Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days. Ajay and Sons sent 40% payment on 14th January, 2020 and balance payment on 10th February,20
by cheque?
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Sold personal investment and invested in business Rs.5,00,000.2. Mitta...
Investment in Business
The individual sold personal investments and committed Rs. 5,00,000 into a business venture. This capital injection is crucial for expansion and operational efficiency.
Transaction with Mittal Bros.
- Purchase Details: Mittal Bros. bought 100 shawls at Rs. 3,000 each.
- Trade Discount: A 10% trade discount was applied.
- Calculation: Rs. 3,000 - (10% of Rs. 3,000) = Rs. 2,700 per shawl.
- Total Cost After Trade Discount: 100 shawls x Rs. 2,700 = Rs. 2,70,000.
- Cash Discount: A 3% cash discount was available for payments made within 14 days.
- Calculation: Rs. 2,70,000 - (3% of Rs. 2,70,000) = Rs. 2,61,900 if paid within the discount period.
- Return of Poor Quality Shawls: 10 shawls were returned.
- Amount refunded: 10 shawls x Rs. 2,700 = Rs. 27,000.
- Final Payment: The final payment after returns would be Rs. 2,70,000 - Rs. 27,000 = Rs. 2,43,000.
Sale to Ajay and Sons
- Sale Details: 100 shawls sold at Rs. 200 each.
- Trade Discount: A 25% trade discount was given.
- Calculation: Rs. 200 - (25% of Rs. 200) = Rs. 150 per shawl.
- Total Sale After Trade Discount: 100 shawls x Rs. 150 = Rs. 15,000.
- Cash Discount: A 5% cash discount applied for full payment within 14 days.
- Calculation if paid on time: Rs. 15,000 - (5% of Rs. 15,000) = Rs. 14,250.
- Payment Timeline:
- 14th January 2020: 40% of the payment was received.
- Amount: 40% of Rs. 15,000 = Rs. 6,000.
- 10th February 2020: Remaining balance received by cheque.
- Amount: Rs. 15,000 - Rs. 6,000 = Rs. 9,000.
This structured approach to discounts and returns highlights effective financial management in both purchasing and selling scenarios.
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Sold personal investment and invested in business Rs.5,00,000.2. Mittal Bros. purchased 100 shawls @ Rs.3,000 per shawl, allowed 10% Trade Discount and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawl of poor quality, which is returned. Mittal Bros, settled the payment within 10 days.3. Sold to Ajay and Sons 100 shawls @ Rs.200 per shawl on 4th January, 2020. Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days. Ajay and Sons sent 40% payment on 14th January, 2020 and balance payment on 10th February,20by cheque?
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Sold personal investment and invested in business Rs.5,00,000.2. Mittal Bros. purchased 100 shawls @ Rs.3,000 per shawl, allowed 10% Trade Discount and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawl of poor quality, which is returned. Mittal Bros, settled the payment within 10 days.3. Sold to Ajay and Sons 100 shawls @ Rs.200 per shawl on 4th January, 2020. Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days. Ajay and Sons sent 40% payment on 14th January, 2020 and balance payment on 10th February,20by cheque? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Sold personal investment and invested in business Rs.5,00,000.2. Mittal Bros. purchased 100 shawls @ Rs.3,000 per shawl, allowed 10% Trade Discount and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawl of poor quality, which is returned. Mittal Bros, settled the payment within 10 days.3. Sold to Ajay and Sons 100 shawls @ Rs.200 per shawl on 4th January, 2020. Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days. Ajay and Sons sent 40% payment on 14th January, 2020 and balance payment on 10th February,20by cheque? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sold personal investment and invested in business Rs.5,00,000.2. Mittal Bros. purchased 100 shawls @ Rs.3,000 per shawl, allowed 10% Trade Discount and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawl of poor quality, which is returned. Mittal Bros, settled the payment within 10 days.3. Sold to Ajay and Sons 100 shawls @ Rs.200 per shawl on 4th January, 2020. Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days. Ajay and Sons sent 40% payment on 14th January, 2020 and balance payment on 10th February,20by cheque?.
Solutions for Sold personal investment and invested in business Rs.5,00,000.2. Mittal Bros. purchased 100 shawls @ Rs.3,000 per shawl, allowed 10% Trade Discount and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawl of poor quality, which is returned. Mittal Bros, settled the payment within 10 days.3. Sold to Ajay and Sons 100 shawls @ Rs.200 per shawl on 4th January, 2020. Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days. Ajay and Sons sent 40% payment on 14th January, 2020 and balance payment on 10th February,20by cheque? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Sold personal investment and invested in business Rs.5,00,000.2. Mittal Bros. purchased 100 shawls @ Rs.3,000 per shawl, allowed 10% Trade Discount and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawl of poor quality, which is returned. Mittal Bros, settled the payment within 10 days.3. Sold to Ajay and Sons 100 shawls @ Rs.200 per shawl on 4th January, 2020. Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days. Ajay and Sons sent 40% payment on 14th January, 2020 and balance payment on 10th February,20by cheque? defined & explained in the simplest way possible. Besides giving the explanation of Sold personal investment and invested in business Rs.5,00,000.2. Mittal Bros. purchased 100 shawls @ Rs.3,000 per shawl, allowed 10% Trade Discount and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawl of poor quality, which is returned. Mittal Bros, settled the payment within 10 days.3. Sold to Ajay and Sons 100 shawls @ Rs.200 per shawl on 4th January, 2020. Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days. Ajay and Sons sent 40% payment on 14th January, 2020 and balance payment on 10th February,20by cheque?, a detailed solution for Sold personal investment and invested in business Rs.5,00,000.2. Mittal Bros. purchased 100 shawls @ Rs.3,000 per shawl, allowed 10% Trade Discount and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawl of poor quality, which is returned. Mittal Bros, settled the payment within 10 days.3. Sold to Ajay and Sons 100 shawls @ Rs.200 per shawl on 4th January, 2020. Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days. Ajay and Sons sent 40% payment on 14th January, 2020 and balance payment on 10th February,20by cheque? has been provided alongside types of Sold personal investment and invested in business Rs.5,00,000.2. Mittal Bros. purchased 100 shawls @ Rs.3,000 per shawl, allowed 10% Trade Discount and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawl of poor quality, which is returned. Mittal Bros, settled the payment within 10 days.3. Sold to Ajay and Sons 100 shawls @ Rs.200 per shawl on 4th January, 2020. Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days. Ajay and Sons sent 40% payment on 14th January, 2020 and balance payment on 10th February,20by cheque? theory, EduRev gives you an ample number of questions to practice Sold personal investment and invested in business Rs.5,00,000.2. Mittal Bros. purchased 100 shawls @ Rs.3,000 per shawl, allowed 10% Trade Discount and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawl of poor quality, which is returned. Mittal Bros, settled the payment within 10 days.3. Sold to Ajay and Sons 100 shawls @ Rs.200 per shawl on 4th January, 2020. Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days. Ajay and Sons sent 40% payment on 14th January, 2020 and balance payment on 10th February,20by cheque? tests, examples and also practice UPSC tests.
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