Question

Cash received from Kajal rs 36,000 after allowing her discount 10%.amount debited to discount account will be:
36000*100/90=40000
100%=40000
40000-36000=4000

Answer 1

Answer:

3,600

Explanation:

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Answer 2

Your question is incomplete. Please check below the full content.

Cash received from Kajal Rs. 36,000 after allowing her discount @10%. Amount debited to discount account will be:

(A)Rs. 3,600

(B)Rs. 4,000

(C)Rs. 4,400

(D)Rs. 40,000

Concept:

Discount-

Discounts are given when a reduction in the price is permitted to promote more purchases or timely payments. Discounts are divided into:

• Trade discounts: Trade discounts are those that are made available when bulk purchases are made. The sale is recorded at the revised amount and it is permitted as a reduction from the sale value. This is known as a trade discount for sales less.

• Cash discount: A discount given by a supplier in exchange for prompt payment or money received before the due date is referred to as a cash discount. Typically, a percentage of the money received is permitted.

Given:

Amount after discount = 36000

Discount rate = 10%

Find:

Amount of discount

Solution:

Since, Rs. 36000 represents the amount after the discount, hence

36000=90% of Principal amount

or

Principal Amount=36000 x 100 / 90

Principal Amount = 40000

Therefore, the amount of the discount is 10% of 40000 that is Rs. 4000 and it will be debited in the discount account.

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