Question
A person buys 5 tables and 9 chairs for Rs15,400. He
sells the tables at 10% profit and chairs at 20% profit. If his total profit on selling all the tables and chairs is Rs2,080. what is the cost price of 3 chairs?Solution
Let the cost price of one table and one chair be Rs. x and Rs. y respectively. => 5x + 9y = 15400 ------ (i) According to the question, => 5x × (10/100) + 9y × (20/100) = 2080 => 5x/10 + 18y/10 = 2080 => 5x + 18y = 20800 ------- (ii) Subtract equation (i) from equation (ii), we get => 9y = 5400 => 3y = 1800 ∴ Cost of 3 chairs are Rs. 1,800.
Which of the following is an example of capital expenditure?
Which of the following statement is incorrect?
Depreciation is applicable to:
SA 700 guides auditors on forming an opinion and reporting on financial statements. When an unmodified opinion is given, the report must include a secti...
When a bank chooses the wrong strategy or follow a long-term business strategy which might lead to its failure, it is called
Which of the following is true about stock options granted to employees (share-based payments) under Ind AS 102?
Omega Ltd. has idle capacity and receives a special export order for 2,000 units at ₹420 per unit. Normal price = ₹500. Unit variable cost = ₹350....
Which banking transaction involves the transfer of funds from one bank account to another electronically, often used for paying bills or making purchases?
A firm extends credit from 30 to 60 days to push sales, increasing receivables by ₹5 crore. Cost of capital is 12%. What is the annual carrying cost?
What are the reasons for differences between the bank balance and book balance?
Relevant for Exams:
