Multiple choice

X sent out goods costing Rs 90,000 to Y at cost + 33 $\displaystyle \frac{1}{3}$%, 1/10th of goods were lost in transit. 2/3rd of the received goods are sold at 20% above invoice price. $\displaystyle \frac{1}{2}$ of the sales are on credit. The amount of credit sales will be _______________.

  1. Rs 43,200

  2. Rs 36,000

  3. Rs 42,000

  4. Rs 45,000
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Invoice price = 90000 * 4/3 = 120000. Goods remaining after loss = 90000 * 0.9 = 81000 cost, or 108000 invoice. 2/3 of received goods = 72000 invoice. Sold at 20% above invoice = 72000 * 1.2 = 86400. Half of sales = 43200.

AI explanation

The invoice price is calculated using the markup formula, adding 33 1/3 percent to the cost of 90,000 to get 1,20,000. After 1/10th is lost, 9/10th of the goods remain, making the invoice value of the received goods 1,08,000. The consignee sells 2/3rd of these goods at 20 percent above the invoice price, making total sales equal to 1,08,000 times 2/3 times 1.20, which is 86,400; half of this amount is credit sales, giving a result of Rs 43,200.

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