A & B enter into a joint venture for purchase and sale of type-writer. A purchased typewriter costing Rs 100000. repair & printing expenses were Rs 20000. B sold it at 20% margin on selling price. the sale valve will be
a. 125000
b. 150000
c. 100000
d. 140000
please answer
CA Paras jain
(Audit Senior Assistant)
(1544 Points)
Replied 22 November 2009
total cost of typewriter is = 100000 + 20000 = 120000
now, amt of profit is 20% of sales or 1/5 of sales
that means 1/4 of cost
hence, profit = 120000*1/4 = 30000
sales value = 120000 + 30000 = rs.150000
Dheeraj Sondhiya
(CA- IPCC)
(184 Points)
Replied 28 November 2009
I also agree with Paras
But i have some doubt in question
CA Paras jain
(Audit Senior Assistant)
(1544 Points)
Replied 29 November 2009
even i had some doubt in question bcoz it ws a vry easy question..
n as per my xperience these type of questions are not asked in CPT
CA Harish Suwalka
(Chartered Accountant ( Bhilwara ))
(4125 Points)
Replied 01 December 2009
B- 150000 is the right answer but i dont think it deserves to be asked on CAClub...it was damn easy
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