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Cpt-need help in this question
X invoiced goods to Y at 25% profit on cost. 40% of goods were lost in transit . 60% of goods received were sold by consignee at 25% above the invoice price. Rate of commission is 10% on sales at invoice price plus 50% of gross sales less all commission exceeded cost price. The amount of commission is Rs.7800. The cost of goods sent of consignment is:
A. Rs.60000
B. Rs.80000
C. Rs.100000
D. None
Replies (3)
Let cost be 100
Invoice price = 100 *125%
Selling Price = 125 *125% = 156.25
Therefore Additional Profit over Invoice price = 31.25
Therefore ,
Commission = 125*10% + 31.25*50%
7800 =28.125 %
Therefore Cost of Goods = 7800 / 28.125%
=27733.33
Total Goods Sent on Consignment = 27733.33 / 60% = 46222.22
Thank you very much!!
but Is there any other method to solve this question??
I could not understand it
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