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C of Bangalore consigned goods costing Rs. 3,000 to his agent at Delhi. Freight and insurance paid by consignor Rs. 100. Consignee’s expenses Rs. 200. 4/5th of the goods were sold for Rs. 3,000. Commission 2% on sales. Consignee want to settle the balance with the help of a bank draft. The amount of draft will be:
  • a)
    Rs. 2,740
  • b)
    Rs. 2,800
  • c)
    Rs. 3,000
  • d)
    Rs. 1,800
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
C of Bangalore consigned goods costing Rs. 3,000 to his agent at Delhi...
The amount to be remittance Rs.2740/-. 
i.e. Total Sales Rs.3000 
Less: Consignee Expenses Rs.200 
2%Commission on Rs.3000=Rs.60 
So, Draft willbe Rs.2740
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Most Upvoted Answer
C of Bangalore consigned goods costing Rs. 3,000 to his agent at Delhi...
Sold the goods for Rs. 3,500 and incurred expenses as follows:

Commission to agent - 5% on sales
Rent of godown - Rs. 200
Cartage - Rs. 50

Calculation of the amount due to consignor:

Sales proceeds = Rs. 3,500
Less: Commission to agent (5% of 3,500) = Rs. 175
Less: Rent of godown = Rs. 200
Less: Cartage = Rs. 50
Net amount due to consignor = Rs. 2,975

Add: Cost of goods sold = Rs. 3,000
Add: Freight and insurance paid by consignor = Rs. 100

Total amount due to consignor = Rs. 6,075
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C of Bangalore consigned goods costing Rs. 3,000 to his agent at Delhi. Freight and insurance paid by consignor Rs. 100. Consignee’s expenses Rs. 200. 4/5thof the goods were sold for Rs. 3,000. Commission 2% on sales. Consignee want to settle the balance with the help of a bank draft. The amount of draft will be:a)Rs. 2,740b)Rs. 2,800c)Rs. 3,000d)Rs. 1,800Correct answer is option 'A'. Can you explain this answer?
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C of Bangalore consigned goods costing Rs. 3,000 to his agent at Delhi. Freight and insurance paid by consignor Rs. 100. Consignee’s expenses Rs. 200. 4/5thof the goods were sold for Rs. 3,000. Commission 2% on sales. Consignee want to settle the balance with the help of a bank draft. The amount of draft will be:a)Rs. 2,740b)Rs. 2,800c)Rs. 3,000d)Rs. 1,800Correct 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 C of Bangalore consigned goods costing Rs. 3,000 to his agent at Delhi. Freight and insurance paid by consignor Rs. 100. Consignee’s expenses Rs. 200. 4/5thof the goods were sold for Rs. 3,000. Commission 2% on sales. Consignee want to settle the balance with the help of a bank draft. The amount of draft will be:a)Rs. 2,740b)Rs. 2,800c)Rs. 3,000d)Rs. 1,800Correct 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 C of Bangalore consigned goods costing Rs. 3,000 to his agent at Delhi. Freight and insurance paid by consignor Rs. 100. Consignee’s expenses Rs. 200. 4/5thof the goods were sold for Rs. 3,000. Commission 2% on sales. Consignee want to settle the balance with the help of a bank draft. The amount of draft will be:a)Rs. 2,740b)Rs. 2,800c)Rs. 3,000d)Rs. 1,800Correct answer is option 'A'. Can you explain this answer?.
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