Question

If goods be purchased for 450 and 1/3 is sold at a loss of 10%. At what gain % should the remainder is sold to has to gain 20% on the whole transaction?

Answer 1

purchase a/c. dr450
to cash a/c. 450
(being purchase goods)

case1:-
a/q
1/3 of goods =
$450 \times 1 \div 3 = 150$
$150 \times 10 \div 100 = 1.5 = 2$

cash a/c. dr148
loss a/c. dr 02
to sales a/c. 150
(being sold 1/3 of goods purchased with 10% loss)

case2:-
2/3 of goods=
$450 - 150 = 300$
#for the gain of 20% in the whole transiction remaining goods should be sold at 30% gain .
$300 \times 30 \div 100 = 9$
cash a/c dr309
to sales a/c. 300
to profit a/c. 09
(being sold goods at 30% gain to attain gaind of 20% on the whole transiction)