Hari (student) (119 Points)
23 November 2010Thanks for Replay
Suppose we calculate 40000*20/100=8000, but r u shows Rs.10000 how to get that amount. Please explain that part.
3. Consignor sends out goods worth Rs.100000 to his consignee. He sells 3/5 of the goods Rs.70000. Consignee gets 2% commission on sales plus 20% of gross sales less all commission exceeds cost price. Ans: Rs.2833
nidhi agrawal
(chartered accountant)
(76 Points)
Replied 24 November 2010
2% comm= 2% of 70000 =1400
20% comm= 20% of sales- cost- all comm
=20/120(70000-60000-1400)=1433
total comm=1400 + 1433 =2833
v@m$h!
(CA - Final and CS - Final)
(1473 Points)
Replied 24 November 2010
see hari,
If sale price = 100
Profit on sale = 20
Cost price = 80 40000(given)
Then sale price will become, by cross multiplication,
sale price = 100*40000/80 = 50000
Commission on sales (5% on 50000) = 2500
3. Cost price consigned = 100000
Cost price of goods sold (3/5) = 60000
Sale price of goods sold = 70000
Profit on sold goods = 10000
Commission = 2%(70000) = 1400
Commission = 20/120( 70000-60000-1400) = 1433
8600 -120
-20
This is because 8600 already included the 20% commission
Total commission = 1400+1433=2833
CAclubindia
