Question
Deepak bought an old house at Rs. 4,50,000 and he spent
Rs. 50,000 on its painting. He increased the price of house by 20% at the time of selling but he gives 5% discount when he sold. What is the profit percentage?Solution
Total cost price of the house = 450000 + 50000 = Rs. 500000 Selling price of house = 500000 × 1.2 × 0.95 = Rs. 570000 Profit percentage = [(570000 – 500000)/500000] × 100 = 14%
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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