Question
Find the profit percentage earned on a school bag if it
was sold at Rs.1728 after offering a discount of 10% and the marked price of a school bag is Rs.420 more than its cost price.Solution
MP = (1728/90) x 100 = Rs.1920 CP = 1920 – 420 = Rs.1500 Profit = 1728 – 1500 = Rs.228 Profit% = (228/1500) x 100 = 15.2%
Which of the following is an example of transaction in money under GST laws
A bill of exchange drawn on 15th March for 2 months will mature on:
The person in whose Favor a bill is endorsed is called:
The term 'Days of Grace' in relation to a bill of exchange refers to:
When a bill is discounted with the bank, the party that bears the loss if the bill is dishonored at maturity is the:
A bill of ₹50,000 discounted @12% p.a. for 3 months. Bank discount = ?
Mr. Arvind drew a bill of exchange of ₹1,00,000 payable after 3 months on Mr. Rohit, who accepted the bill. Before maturity, Mr. Arvind endorsed the b...
If revenue from operations is Rs.60,00,000 Gross Profit ratio is 60%, Operating expenses are Rs.4,00,000 and Income tax rate is 30%, what will be the op...
Which accounting standard governs the treatment of inventories in India?
The party who is entitled to receive the payment of a bill of exchange is called the:
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