Question
A shopkeeper bought 200 articles at ₹40 each. He sold
120 articles at ₹50 each and the rest at ₹60 each. What is the profit percentage earned by the shopkeeper?Solution
Cost price of 200 articles = 200 × 40 = ₹8,000 Revenue from 120 articles sold at ₹50 each = 120 × 50 = ₹6,000 Revenue from 80 articles sold at ₹60 each = 80 × 60 = ₹4,800 Total revenue = ₹6,000 + ₹4,800 = ₹10,800 Profit = Total revenue - Total cost price = ₹10,800 - ₹8,000 = ₹2,800 Profit percentage = (Profit / Total cost price) × 100 = (2,800 / 8,000) × 100 = 35% Correct Option: d) 35%
___________ may fix remuneration of the first auditor appointed by the Board as per section 142 of the Companies Act
A company wants to list on the Bombay stock exchange. Which of the following processes will result in this?
The section of the companies Act, 2013 which contains provisions regarding remuneration of the auditor is:
What does the term "NEFT" stand for in the context of Indian banking?
As per the Indian Accounting Standards, a company enters into a lease for a building for 9 years, and the building's useful life is 10 years. The contra...
What are the reasons for differences between the bank balance and book balance?
If a government grant is received but later becomes refundable, how should it be accounted?
A company is offered a trade credit term of "2/10 net 30" by its supplier. If it doesn't take the discount, what is the annualized cost of forgoing the ...
If an MSME moves to a higher category due to reclassification, for how many years can it continue to avail benefits of the previous category (non-tax be...
Which strategic response approach to the environment, does the following statement relates to?
They seek to monitor the changes in that environme...
Relevant for Exams:
