The cost price of item B is Rs. 200/- more than the cost price of item A. Item A was sold at a profit of 20% and item B was sold at a loss of 30%. If the respective ratio of selling prices of items A and B is 6 :7, what is the cost price of item B?
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Answer:
contractor makes up his accounts to 31st December in each year. He commenced a contract on 1st April 2016. The following information relates to the contract as on 31st December 2016: Materials Rs.21,500 Labour 50,110 Expenses 6,310 A machine costing Rs.15,000 has been on site for 73 days. Its working life is estimated at five years and its final scrap value is Rs.1,000. A supervisor, who is paid Rs.12,000 p.a., has spent approximately one-half of his time on this contract. All other expenses amounted to Rs.12,610. Materials at site at the end of the year cost Rs.2,478. The contract price is Rs.2,00,000. On 31st December 2016, tow thirds of the contract was completed. Architect’s certificates has been issued covering Rs.1,00,000; Rs.80,000 have so far been paid on account. Prepare Contract Account and show how much profit or loss should be included in the financial accounts for the year ended 31st December 2016.
Answer:
The cost price of item B is Rs. 200/- more than the cost price of item A. Item A was sold at a profit of 20% and item B was sold at a loss of 30%. If the respective ratio of selling prices of items A and B is 6 :7, what is the cost price of item B?
Wrong answers Only....
Mtlb * Right
Step-by-step explanation:
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