Goods costing 100000 are consigned at 20% on invoice price.What is its load?
9 Replies
mridul savio Pinto
(articled trainee )
(1477 Points)
Replied 10 May 2011
it loading is 125000*25/125 =25000
Mahesh
(Student)
(386 Points)
Replied 11 May 2011
IN CONSIGNMENT CHAPTER WHAT IS THIS INVOICE PRICE,COST & LOADING RELATE TO.JUST TELL ME RELATION BETWEEN THESE THREE.
CA Manish Pawan
(Practicing Chartered Accountant)
(134 Points)
Replied 11 May 2011
try this method
in each case whether %age of loading is given on invoice price or cost price you will take that %age as numerator
now as all of us know that Invoice Price Is Always Bigger Than Cost Price
If you have been given Cost price then since it is SMALLER (-) as compare to Invoice Price use 100(-)%age as Denominator
If you have been given Invoice Price then since it is BIGGER (+) as compare to Cost price use 100(+)%age as Denominator
by applying this formula you will get the loading amt. and then u can find the CP or SP by adding or subtracting loading from the given figure as the case may be
use this you will never be confused in these type of probs
kritika poddar
(CA- FINAL student)
(277 Points)
Replied 11 May 2011
In simple language cost means cost price... load means profit... n Invoice price means selling price...
for example if cost is 100 n load is 20% on cost then Invoice price is 100 + (20% of 100), i.e 120
now if the load is on Invoice price then assume Invoice price be 100 then load will be 20 n cost will be 80, i.e (100-20).. now apply simple maths... if cost is 80 n we have 100 as invoice price then what will be invoice price if coat is 1 n subsequently what will be invoice price if cost is 100..
80 cost then 100 invoice
1 cost then 100/80 invoice price
100 cost then (100/80)* 100
i hope its clear now...
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