X of Kolkata sends out goods costing Rs. 1,00,000 to Y of Delhi. 3/5th of the goods were sold by consignee for Rs. 70,000. Commission 2% on sales plus 20% of gross sales less all commission exceeds cost price. The amount of Commission will be:
Rs. 2,900
Incorrect Answer Rs. 3,000
Incorrect AnswerRs. 2,800
Incorrect AnswerExplanation:
Cost of goods sold = Rs.60,000 (3/5 of 1,00,000)
Selling Price of goods sold = Rs.70,000
Ordinary Commission = Rs.1,400 (2% on Rs.70,000)
Now, Let the extra commission be Rs.X
X= 20%[(70,000-1,400- X) - 60,000]
x= 1/5 ( 68,600 - X - 60,000)
or, X= 1/5 ?*(8,600−X)
or, 5X=8,600−X
or, 6X = 8600
or, X=8,600?/6=1,433
Therefore, Total Commission = Rs.(1,400+1,433) =Rs.2,833
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By: SWAPNIL AGGARWAL