Cpt i need help in this question
alfiya (student) (133 Points)
17 May 2015alfiya (student) (133 Points)
17 May 2015
Sanat Biswal
(Chartered Accountant)
(1139 Points)
Replied 20 May 2015
GIVEN:C.P=80000,PROFIT=20% OF I.P OR 25% OF C.P,
FROM ABOVE RELATION OF PROFIT ON C.P.We get the I.P f the goods as:I.P.=125%*80000=100000
Now,I.P of the goods received by Y(CONSIGNEE)=60%*100000=60000.
Goods sold by consignee=(60%*60000)/2 + {(60%*60000)/2}*125%
=18000 + 22500=40500
Commission=10%*18000 + 50%*(40500-36000)
=1800 + 2250=4050
Sanat Biswal
(Chartered Accountant)
(1139 Points)
Replied 21 May 2015
Originally posted by : alfiya | ||
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But the answer is given as Rs3900 | ![]() |
But I don't find any error in the solution....
Jag Bhushan Sharma
(Faculty in a B-School)
(633 Points)
Replied 07 June 2015
Goods received by consignee at invoice price (60% of Rs.100000) = Rs.60000
Sales = (60000 x 60%)/2 + (60000 x40%) x 1.25 = Rs.18000 + Rs.30000
Let total commission be X
X = (24000 x 10%) + 1/2 [(30000 - x) - 24000
X = 2400 + 1/2 (6000 - X)
1.5 X = 5400
X = 5400/1.5 = Rs.3600
Total Commission = Rs.3600