Question

Purchase good from Henry for rs 50000 on 10% trade discount and 4% cash discount and paid 60% amount by cheque

Answer 1

Answer:

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Explanation:

Purchased goods from Henry for 50,000 on 10% trade discount and 4% cash discount and paid 60% amount by cheque.

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Working Note: –

Cost Price of goods = 50,000

Less: 10% trade discount = 5,000

Purchases Price = 45,000

Payment in cash Rs 45,000 x 60% = 27,000

Less: cash discount Rs 27,000 x 4% = 50,000

Cash paid = 50,000