Question

Goods costing ₹ 60,000 sold to Manish at a profit of 25% on sales less Trade Discount @ 5%.

Calculate the amount to be shown in Sales Account:

A ₹ 77,000 Correct Answer Incorrect Answer
B ₹ 76,000 Correct Answer Incorrect Answer
C ₹ 71,250 Correct Answer Incorrect Answer
D ₹ 75,000 Correct Answer Incorrect Answer

Solution

Cost = 60,000 Sales Value = 60,000/75*100 Sales Value = 80,000 Less Trade Discount 4000 (80,000*5%) Amount to be shown in Sales Account: ₹ 76,000

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