Calculate the following:Sold goods of ₹ 1,00,000 at 10% Trade Discou

1.	Calculate the following:Sold goods of ₹ 1,00,000 at 10% Trade Discount and 10% cash discount to Ram and received 50% amount by cheque. Calculate the amount of cheque received.
Answer» Trade Discount = Catalogue price × Rate of trade discount = 1,00,000 × \(\frac{10}{100}\) = ₹ 10,000 Net amount receivable = Catalogue price – Trade Discount = 1,00,000 – 10,000 = ₹ 90,000 50% of net amount received. ∴ Amount receivable = 50% of 90,000 = \(\frac{50}{100}\) × 90,000 = ₹ 45,000 Cash discount allowed = 10% on ₹ 45,000 = \(\frac{10}{100}\) × 45,000 = ₹ 4,500 Amount of cheque received = 50% of total amount – Cash discount = 45,000 – 4,500 = ₹ 40, 500 Amount received by cheque = ₹ 40,500.

Calculate the following:Sold goods of ₹ 1,00,000 at 10% Trade Discount and 10% cash discount to Ram and received 50% amount by cheque. Calculate the amount of cheque received.

Answer»

Trade Discount = Catalogue price × Rate of trade discount

= 1,00,000 × \(\frac{10}{100}\)

= ₹ 10,000

Net amount receivable = Catalogue price – Trade Discount

= 1,00,000 – 10,000

= ₹ 90,000

50% of net amount received.

∴ Amount receivable = 50% of 90,000

= \(\frac{50}{100}\) × 90,000

= ₹ 45,000

Cash discount allowed = 10% on ₹ 45,000

= \(\frac{10}{100}\) × 45,000

= ₹ 4,500

Amount of cheque received = 50% of total amount – Cash discount

= 45,000 – 4,500

= ₹ 40, 500

Amount received by cheque = ₹ 40,500.