14. Sold goods at 5% trade discount to Harihar. The base price was ₹2,000.

5) Goods purchased from M/s Neel Kumal at a list price of ₹12,000 with a 10% trade discount and a 3% cash discount. Cash was paid for the net amount.

6) Sold to S. Chaukan with a trade discount of [tex]6\%[/tex] and a cash discount of [tex]17\%[/tex] goods worth ₹15,000. He has paid cash for the same.

Question

04-07-2024
Business

Answered

14. Sold goods at 5% trade discount to Harihar. The base price was ₹2,000.

5) Goods purchased from M/s Neel Kumal at a list price of ₹12,000 with a 10% trade discount and a 3% cash discount. Cash was paid for the net amount.

6) Sold to S. Chaukan with a trade discount of [tex]6\%[/tex] and a cash discount of [tex]17\%[/tex] goods worth ₹15,000. He has paid cash for the same.

Answer :

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what is 25% of 500.00

GinnyAnswer GinnyAnswer · Answer 1 · 2024-07-04T11:34:08-04:00

Certainly! Let's break down both the purchase and sale transactions in detail.

### 1. Goods Purchased from M/s Neel Kumar

The list price of the goods purchased is ₹12,000 with a 10% trade discount and a 3% cash discount.

#### Step-by-Step Calculation

1. Calculate the net price after the trade discount:
[tex]\[ \text{Net Price after Trade Discount} = \text{List Price} - (\text{List Price} \times \text{Trade Discount}) \][/tex]
[tex]\[ \text{Net Price after Trade Discount} = 12000 - (12000 \times 0.10) \][/tex]
[tex]\[ \text{Net Price after Trade Discount} = 12000 - 1200 = 10800 \text{ INR} \][/tex]

2. Calculate the cash discount amount:
[tex]\[ \text{Cash Discount Amount} = \text{Net Price after Trade Discount} \times \text{Cash Discount} \][/tex]
[tex]\[ \text{Cash Discount Amount} = 10800 \times 0.03 = 324 \text{ INR} \][/tex]

3. Calculate the final amount paid after the cash discount:
[tex]\[ \text{Final Amount Paid} = \text{Net Price after Trade Discount} - \text{Cash Discount Amount} \][/tex]
[tex]\[ \text{Final Amount Paid} = 10800 - 324 = 10476 \text{ INR} \][/tex]

### 2. Goods Sold to S. Chauhan

The list price of the goods sold is ₹15,000 with a 6% trade discount and a 17% cash discount.

#### Step-by-Step Calculation

4. Calculate the net price after the trade discount:
[tex]\[ \text{Net Price after Trade Discount} = \text{List Price} - (\text{List Price} \times \text{Trade Discount}) \][/tex]
[tex]\[ \text{Net Price after Trade Discount} = 15000 - (15000 \times 0.06) \][/tex]
[tex]\[ \text{Net Price after Trade Discount} = 15000 - 900 = 14100 \text{ INR} \][/tex]

5. Calculate the cash discount amount:
[tex]\[ \text{Cash Discount Amount} = \text{Net Price after Trade Discount} \times \text{Cash Discount} \][/tex]
[tex]\[ \text{Cash Discount Amount} = 14100 \times 0.17 = 2397 \text{ INR} \][/tex]

6. Calculate the final amount received after the cash discount:
[tex]\[ \text{Final Amount Received} = \text{Net Price after Trade Discount} - \text{Cash Discount Amount} \][/tex]
[tex]\[ \text{Final Amount Received} = 14100 - 2397 = 11703 \text{ INR} \][/tex]

### Summary of Results

- Net Price after Trade Discount for Purchase: ₹10800
- Cash Discount Amount for Purchase: ₹324
- Final Amount Paid for Purchase: ₹10476

- Net Price after Trade Discount for Sale: ₹14100
- Cash Discount Amount for Sale: ₹2397
- Final Amount Received for Sale: ₹11703

These calculations represent the transactions involved in purchasing goods from M/s Neel Kumar and selling goods to S. Chauhan with the respective discounts applied.