Question

Gopalan and Co., of Chennai consigned 1,500 radios of Rs. 200 each at 20%
above cost to M/s Joshi Bros. of Mumbai. Gopalan & Co. paid Rs. 12,000 for Freight and
Rs. 2,000 for Wages. 150 radios were destroyed by fire in transit and the Insurance Company
accepted a claim of Rs. 25,000 only. M/s. Joshi Bros. took delivery of the remaining
radios and paid Rs. 20,000 as custom duties and other charges.
The consignee accepted a bill of Rs. 30,000 drawn by the consignor for 3 months.
The consignor discounted the same at 10% p.a. The consignee sent Account Sales after two
months stating that he had sold 1,050 radio at Rs. 300 each. He had paid Rs. 50,000 for
advertisement and other selling expenses. The consignee is entitled to commission at is 4% . what is the consignment profit and how?​

Answer 1

Answer:

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