Question

Bought goods for cash of the list price of 50,000 at 20% trade discount and 5% cash discount. *​

Answer 1

Answer:

Step 1 ( use trade discount formula)

Trade discount= List price x trade discount

Trade discount= 50,000x 20/100

Trade discount=10,000

Net amount/purchase rate = List price - trade discount

Net amount/purchase rate = 50,000 - 10,000

Net amount/ purchase rate = 40,000

Step 2 ( use cash discount formula. But since the question have both trade discount and cash discount, instead of using the actual list price on cash discount we will have to take the purchase rate which we got while calculating trade discount.)

Cash discount = purchase rate x cash discount

Cash discount = 40,000 X 2/100

Cash discount = 800

Net amount = purchase rate - cash discount

Net amount = 40,000 - 800

Net amount = 39,200

amount paid by Shyam in cheque= 40%x39200

= 15,680

Therefore the amount paid by Shyam in cheque was 15,680 and in cash was 23,520.

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