Question

X sends out goods costing Rs 1,50,000 to Y. Goods are to be sold at cost + 33 $\frac{1}{3}$%. The consignor asked consignee to pay an advance for an amount equivalent to 60% of sales value. The amount of advance will be :

• A. Rs 1,20,000
• B. Rs 1,00,000
• C. Rs 1,50,000
• D. None

Answer 1

The correct option is A Rs 1,20,000

Cost Price of goods : Rs. 150000
Goods are to be sold at 33 1/3%
33 1/3% of Rs. 150000 is Rs. 50000
Sale value = Rs. 200000 (150000+50000)
Advance to pay to consignee is 60% of sale value.
60% of Rs. 200000 = Rs. 120000