Multiple choice

X & Y entered into joint venture on $1.10.2015$ for sale of certain goods. X purchased goods costing Rs$4,00,000$ and incurred expenses Rs$60,000$. He sold $90\%$ of these goods at $30\%$ over the cost price and selling expenses amounted to Rs$25,000$. Sale price of sale from X = ?

  1. Rs$5,38,200$
  2. Rs$5,67,450$
  3. Rs$4,68,000$
  4. Rs$5,50,200$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The cost of the 90% of goods sold is 90% of Rs. 4,00,000, which is Rs. 3,60,000. Selling them at 30% above cost gives a sale price of Rs. 4,68,000.

AI explanation

The total cost price of the goods purchased by X is Rs 4,00,000, so the cost price of 90% of the goods is 0.90 times 4,00,000, which equals Rs 3,60,000. He sold these goods at a 30% profit on cost, making the selling price equal to 130% of Rs 3,60,000. Therefore, the sale price is 1.30 multiplied by 3,60,000, which gives Rs 4,68,000.

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