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Question

Suresh consigned 2,000 pieces of goods to his agent costing 30 each and an invoice price of 20% over cost price. 4/5th of the goods were sold by Agent at a profit margin of 25% on his cost. Sale value of goods will be:

A
90,000
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B
60,000
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C
72,000
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D
75,000
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Solution

The correct option is D 72,000
Invoice Price is the final amount charged by the seller for its goods.
InvoicePrice=Costprice+Markedupprice
Substitute values in the above equation
InvoicePrice=2000×Rs30+20100×60,000=Rs60,000+Rs12,000=Rs72,000
The Agent sold only 4/5 of the goods
GoodsSold=45×60,000=Rs57,600
SaleValue=Goodssold+ProfitMargin
Substitute values in the above equation
SaleValue=Rs57,600+25100×Rs57,600=Rs72,000
Hence the sale value of goods is Rs72,000.

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