Question

mr x consigned goods costing 300000 to mr y at cost + 331/3 %. 1/10 of the goods were lost in transit . mr y sold 3/5 of the remaining goodsat 10% above invoiceprice . calculate sales

Answer 1

Goods Costing Rs 300000 we're consigned at cost +331/3 %

Invoice Price of Goods :

= 300000+ (300000 x 331/3% )

= 300000+ 100000

= 400000

1/10 of goods lost at Invoice Price

400000 x 1/10 = 40000

Remaining Goods

400000-40000(lost)

= 360000

3/5 of the remaining goods were sold

= 360000 x 3/5

= 216000

216000 were sold @ 10% above invoice price

=216000x10%

= 21600

therefore

sales = 216000+ 21600

=237600