Question
A salesman is allowed 32% commission on the total sales
by him and a bonus of 3% on the sales over Rs. 15000. If the total earnings of a salesman is Rs. 7950, find the total sales.Solution
Let the total sales be x According to the question x × 32/100 + (x - 15000) × 3/100 = 7,950 (32 x)/100 + (3x - 45000)/100 = 7950 32x + 3x – 45000 = 795000 35x = 840000 x = 24,000
In international wire transfers, which role does a SWIFT Code play for the sender and the beneficiary?
Donation given by any person except by Indian company to Political Parties or Electoral Trust is allowed under which section?
Under the provisions of the SARFAESI Act, 2002, specialized entities called ARCs are regulated by RBI. What does the term ARC stand for?
From the following data calculate Labor rate variance.
Actual production = 1000 units.
Actual hours = 15,300.
Actual rate = Rs. 3.9...
A company uses the FIFO method of inventory valuation. The following purchases and sales were made during the month of April:
• April 1: Openin...
If nothing is given in the financial statements about the three accounting assumptions, then it is to be treated as it
A trial balance is an internal financial report, critical to the book-keeping and accounting process. What purpose does a trial balance serve?
Expiration of cost of intangible assets is referred to as:
Gross working capital refers to:
As per RBI guidelines, a “wilful defaulter” refers to a borrower or guarantor who has committed wilful default, provided the outstanding amount is a...
Relevant for Exams:
