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(Guest)

Solve plz

X send out goods costing Rs80,000 to Y so as to show 20% profit on invoice price. 40% of goods were lost in transit. 60% of goods received were sold half at invoice price and balance at 25% above the invoice price,rate of commission is 10% on the sales at invoice price plus 50% on gross sales less all commission exceeds the invoice price. The amount of commission is 



 3 Replies

Rajnikant Vadigoppula

Rajnikant Vadigoppula (CA, CS And CMA Final)     20 March 2012

normal commission = 10% of invoice price {(80000*100/80)-40%}

                                      =   60000*10/100=6000.

excess commission =  [{(80000*100/80)-40%}1/2+25%] - 6000(commission)*50%

                                       =(30000+25%-6000)*50%=(37500-6000)*50%=15750

 

total commission = 6000+15750=21750

 

                                        

uttam

uttam (0)     20 March 2012

      Commission
Particulars Cost Invoice Value 10% on Sales 50% on excess Gross Sales 
Total Goods 80000 100000    
Lost in Transit 32000 40000    
goods received 48000 60000    
         
60% of goods received   36000    
         
Sale value of 1/2 of 60% (as above)   18000 1800  
Sale value of remaining 1/2 of 60%   22500 1800 1350
      3600 1350
      Total commission 4950

 

uttam

uttam (0)     20 March 2012

Refer attachment for workings


Attached File : 319956 951835 commission.xls downloaded: 115 times

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