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X sold goods to Y for Rs. 1,00,000. Y paid cash Rs. 30,000. X will grant 2% discount on balance, and Y request X to draw a bill for balance, the amount of bill will be:
- a)Rs.98,000
- b)Rs.68,000
- c)Rs.68,600
- d)Rs.70,000
Correct answer is option 'C'. Can you explain this answer?
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X sold goods to Y for Rs. 1,00,000. Y paid cash Rs. 30,000. X will gra...
Calculation of Balance Payment:
Total amount of goods sold = Rs. 1,00,000
Amount paid in cash = Rs. 30,000
Balance amount = Rs. 70,000 (Rs. 1,00,000 - Rs. 30,000)
Discount on balance amount = 2%
Discount amount = 2% of Rs. 70,000 = Rs. 1,400
Balance payment after discount = Rs. 70,000 - Rs. 1,400 = Rs. 68,600
Therefore, the amount of bill that X will draw for balance payment is Rs. 68,600.
Explanation:
When X sells goods to Y, Y is supposed to make the payment for the goods sold. In this case, Y paid only Rs. 30,000 in cash, leaving a balance amount of Rs. 70,000. Y requested X to grant a 2% discount on the balance amount and draw a bill for the balance payment.
X agreed to grant a 2% discount on the balance amount, which comes to Rs. 1,400 (2% of Rs. 70,000). Therefore, the balance payment after discount would be Rs. 68,600 (Rs. 70,000 - Rs. 1,400).
X will now draw a bill for Rs. 68,600 in favor of Y, which Y will have to pay at a later date.
Total amount of goods sold = Rs. 1,00,000
Amount paid in cash = Rs. 30,000
Balance amount = Rs. 70,000 (Rs. 1,00,000 - Rs. 30,000)
Discount on balance amount = 2%
Discount amount = 2% of Rs. 70,000 = Rs. 1,400
Balance payment after discount = Rs. 70,000 - Rs. 1,400 = Rs. 68,600
Therefore, the amount of bill that X will draw for balance payment is Rs. 68,600.
Explanation:
When X sells goods to Y, Y is supposed to make the payment for the goods sold. In this case, Y paid only Rs. 30,000 in cash, leaving a balance amount of Rs. 70,000. Y requested X to grant a 2% discount on the balance amount and draw a bill for the balance payment.
X agreed to grant a 2% discount on the balance amount, which comes to Rs. 1,400 (2% of Rs. 70,000). Therefore, the balance payment after discount would be Rs. 68,600 (Rs. 70,000 - Rs. 1,400).
X will now draw a bill for Rs. 68,600 in favor of Y, which Y will have to pay at a later date.
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X sold goods to Y for Rs. 1,00,000. Y paid cash Rs. 30,000. X will gra...
30,000 payment krne ke baad 70,000 balance bcha us pr 2% discount i.e. 1400 .
70,000-1400 =68,600
70,000-1400 =68,600
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X sold goods to Y for Rs. 1,00,000. Y paid cash Rs. 30,000. X will grant 2% discount on balance, and Y request X to draw a bill for balance, the amount of bill will be:a)Rs.98,000b)Rs.68,000c)Rs.68,600d)Rs.70,000Correct answer is option 'C'. Can you explain this answer?
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X sold goods to Y for Rs. 1,00,000. Y paid cash Rs. 30,000. X will grant 2% discount on balance, and Y request X to draw a bill for balance, the amount of bill will be:a)Rs.98,000b)Rs.68,000c)Rs.68,600d)Rs.70,000Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about X sold goods to Y for Rs. 1,00,000. Y paid cash Rs. 30,000. X will grant 2% discount on balance, and Y request X to draw a bill for balance, the amount of bill will be:a)Rs.98,000b)Rs.68,000c)Rs.68,600d)Rs.70,000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X sold goods to Y for Rs. 1,00,000. Y paid cash Rs. 30,000. X will grant 2% discount on balance, and Y request X to draw a bill for balance, the amount of bill will be:a)Rs.98,000b)Rs.68,000c)Rs.68,600d)Rs.70,000Correct answer is option 'C'. Can you explain this answer?.
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