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Question
The payment date after adding 3 days of grace period is known as ______.
Options
The legal due date
The nominal due date
Days of grace
Date of drawing
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Solution
The payment date after adding 3 days of grace period is known as the legal due date.
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Choose the correct alternative.
An agent who is given the possession of goods to be sold is known as
The date on which the period of the bill expires is called
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State whether the following statement is True or False.
The buyer is legally allowed 6 days grace period.
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.
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:
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
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`
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