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Byju's Answer
Standard VIII
Mathematics
Finding Prices / Charges Related to Buying and Selling
If a piece of...
Question

If a piece of furniture's list price is of 28,000 and it is sold at 10%trade discount and 2%cash discount. The cash sale price of furniture would be ________________.

A
Rs. 25,200
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B
Rs. 24,640
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C
Rs. 24,696
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D
None of above
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Solution

The correct option is C Rs. 24,696
Trade discount on furniture = 28000*10/100
= 2800
Sale price of furniture would be Rs 25200 (28000-2800)
Cash Sale price after allowing cash discount 2% is Rs 24696.
Cash discount = 25200*2/100
= 504
25200 - 504 = 24696

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Q.

Give Journal entries for the following:

(i) Bought goods at the list price of Rs.50,000 from Vinod less 20% trade discount and 2% cash discount and paid 40% by cheque.

(ii) Sold goods to Mohan at list price Rs.1,00,000 less 20% trade discount and 2% cash discount and paid 50% by cheque.

(iii) Paid income tax through cheque Rs.2,000.

Q. Journalise the following transactions in the books of M/s. R.K. & Co.:
(i) Purchased goods of list price of ₹ 20,000 from Vishal at 20% trade discount against cheque payment.
(ii) Purchased goods of list price of ₹ 20,000 from Naman at 15% trade discount against cash.
(iii) Purchased goods of list price of ₹ 30,000 from Amrit at 20% trade discount.
(iv) Purchased goods of list price of ₹ 40,000 for ₹ 35,000 for cash.
(v) Goods returned of list price ₹ 10,000 purchased from Amrit.
(vi) Sold goods to Parul of list price of ₹ 40,000 at 10% trade discount against cheque payment.
(vii) Sold goods to Aman of list price of ₹ 30,000 at 10% trade discount against cash.
(viii) Sold goods to Pawan of list price of ₹ 20,000 at 10% trade discount.
(ix) Sold goods to Yamini of list price of ₹ 25,000 for ₹ 23,000.
(x) Sold goods costing ₹ 10,000 at cost plus 20% less 10% trade discount to Bhupesh.
(xi) Sold goods purchased at list price of ₹ 50,000 less 15% trade discount sold at a profit of 25% less 10% trade discount against cheque.
(xii) Aman returned goods of list price of ₹ 10,000 sold to him at 10% trade discount.
Q.

Sold goods for cash of Rs 4000 on 10% Trade discount & 10% cash discount. Posting in discount account will be?


Q. A shopkeeper gives a discount of 10% for cash payment. At what price is an article marked if its cash price at Rs. 1350.
Q. A merchant buys 40 bicycles and marks them at 25% above the cost price. He allows a discount on the marked price at 10% for cash sales and at 5% for credit sales. If three fourth of the stock is sold for cash and the rest for credit and if the total profit is Rs 2025, what is the cost price of one bicycle?
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