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The date on which the period of the bill expires is called

#### Options

Legal Due Date

Grace Date

Nominal Due Date

Date of Drawing

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#### Solution

The date on which the period of the bill expires is called **Nominal Due Date**.

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#### RELATED QUESTIONS

Anita is allowed 6.5% commission on the total sales made by her, plus a bonus of `1/2`% on the sale over ₹ 20,000. If her total commission amounts to ₹ 3,400, find the sales made by her.

Mr. Pavan is paid a fixed weekly salary plus commission based on a percentage of sales made by him. If on the sale of ₹ 68,000 and ₹ 73,000 in two successive weeks, he received in all ₹ 9,880 and ₹ 10,180, find his weekly salary and the rate of commission paid to him.

A book seller ₹ 1,530 as 15% commission on list price. Find list price of the books.

A retailer sold a suit for ₹ 8,832 after allowing 8% discount on marked price and further 4% cash discount. If he made 38% profit, find the cost price and the marked price of the suit.

A certain sum due 3 months hence is `21/20` of the present worth, what is the rate of interest?

**Choose the correct alternative.**

An agent who is given the possession of goods to be sold is known as

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A _______ is an agent who brings together the buyer and the seller.

Broker is an agent who gives a guarantee to seller that the buyer will pay the sale price of goods.

A salesman gets a commission of 6.5% on the total sales made by him and bonus of 1% on sales ₹ 50,000. Find his total income on a turnover of ₹ 75,000.

A merchant gives 5% commission and 1.5% del credere to his agent. If the agent sells goods worth ₹ 30,600 how much does he get? How much does the merchant receive?

A shop is sold at 30% profit, the amount of brokerage at the rate of `3/4`% amounts to

₹ 73,125. Find cost of the shop

After deducting commission at `7 1/2`% on first

₹ 50,000 and 5% on balance of sales made by him, an agent remits ₹ 93,750 to his principal. Find the value of goods sold by him.

The present worth of ₹ 11,660 due 9 months hence is ₹ 11,000. Find the rate of interest.

A salesman is paid fixed monthly salary plus commission on the sales. If on sale of ₹ 96,000 and ₹ 1,08,000 in two successive months he receives in all ₹ 17,600 and ₹ 18,800 respectively, find his monthly salary and rate of commission paid to him.

An agent is paid a commission of 4% on cash sales and 6% on credit sales made by him. If on the sale of ₹ 51,000 the agent claims a total commission of ₹ 2,700, find the sales made by him for cash and on credit.

**Choose the correct alternative:**

The present worth of ₹ 11,660 due 9 months hence is ₹ 11,000. The True discount is ______

An agent who gives guarantee to his principal that the party will pay the sale price of goods is called ______

The buyer is legally allowed ______ days grace period

When transactions like sale, purchase, auction etc. are done through some middlemen, such middlemen are called ______

**State whether the following statement is True or False:**

The trade discount is first calculated on the catalogue (list) price

**State whether the following statement is True or False: **

A factor is an agent who is given the possession of goods and enters a contract for sale in his/her own name

Ananya gets salary of ₹ 15,000 per month and commission at 8% on the sales over ₹ 50,000. If she gets ₹ 17,400 in a certain month, Find the sales made by her in that month

An agent sold a car and charged 3% commission on sale value. If the owner of the car received ₹ 48,500, find the sale value of the car. If the agent charged 2% from the buyer, find his total remuneration

Three cars were sold through an agent for ₹ 2,40,000, ₹ 2,22,000 and ₹ 2,25,000 respectively. The rates of commission were 17.5% on the first, 12.5% on the second. If the agent overall received 14% commission on the total sales, find the rate of commission paid on the third car.

**Solution:** Total selling Price of three cars = 2,40,000 + 2,22,000 + 2,25,000

= `square`

Commision on total sale = 14%

= `14/100 xx square`

Selling price of First car = ₹ 2,40,000

Rate of commission = 17.5%

= `17.5/100 xx 2,40,000 = square`

∴ Commission on first car = ₹ `square`

Selling price of Second car = ₹ 2,22,000

Rate of commission = 12.5%

= `12.5/100 xx 2,22,000 = square`

∴ Commission on second car = ₹ `square`

Selling price of third car = ₹ 2,25,000

Let the rate of commission be x

Commission on third car = `x/100 xx 2,25,000`

∴ Commission on third car = Total commission − (commission on first car + commission on second car)

∴ `x/100 xx 2,25,000 = square - {square + square}`

∴ x = `square`

Mr. Pavan is paid a fixed weekly salary plus commission based on percentage of sales made by him. If on the sale of ₹68,000 and ₹73,000 in two successive weeks, he received in all ₹9880 and ₹10, 180. Complete the following activity to find his weekly salary and the rate of commission paid to him.

**Solution:** Income of Mr. Pavan = Weekly salary + Commission on sales

Salary + Commission on ₹68,000 = ₹9880 ... (1)

Salary+ Commission on ₹73,000 = ₹10,180 ... (2)

Subtracting (1) from (2), we get

Commission on ₹5000 = ₹ `square`

∴ the rate of commission = `square/5000 xx 100` = 6%

Commission on ₹68,000 at 6% = ₹`68000 xx6/100 = square`

From (1) and (3), we get Salary = ₹(9880 - 4080) = `square`

Hence, fixed weekly salary is ₹5800 and the rate of commission is 6%.