Question
A retailer offered two consecutive discounts of 20% and
15% on an item marked at Rs. 775. Given that the ratio of the cost price to the selling price of this item is 15:17, calculate the cost price of the article.Solution
Selling price of the article = 775 X 0.8 X 0.85 = Rs. 527 So, cost price of article = (527/17) X 15 = Rs. 465
Which of the following is an example of transaction in money under GST laws
Mr. A draws a bill of exchange for ₹1,00,000 on Mr. B for 90 days. Mr. B accepts it and it is discounted by Mr. A from the bank. On maturity, Mr. B fa...
Noting charges are ultimately borne by the:
Which accounting standard governs the treatment of inventories in India?
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 exchange for ₹40,000 was discounted with the bank for ₹39,500. The amount of discount charged is:
Mr. X draws a bill on Mr. Y for ₹1,00,000 payable after 3 months. Mr. Y accepts the bill but fails to honour it on maturity. What is this act called i...
The party who is entitled to receive the payment of a bill of exchange is called the:
Noting charges are recoverable from:
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