#### Online Mock Tests

#### Chapters

Chapter 2: Insurance and Annuity

Chapter 3: Linear Regression

Chapter 4: Time Series

Chapter 5: Index Numbers

Chapter 6: Linear Programming

Chapter 7: Assignment Problem and Sequencing

Chapter 8: Probability Distributions

## Solutions for Chapter 1: Commission, Brokerage and Discount

Below listed, you can find solutions for Chapter 1 of Maharashtra State Board Balbharati for Mathematics and Statistics 2 (Commerce) 12th Standard HSC Maharashtra State Board.

### Balbharati solutions for Mathematics and Statistics 2 (Commerce) 12th Standard HSC Maharashtra State Board Chapter 1 Commission, Brokerage and Discount Exercise 1.1 [Pages 5 - 6]

An agent charges 12% commission on the sales. What does he earn if the total sale amounts to ₹ 48,000? What does the seller get?

A salesman receives 3% commission on the sales up to ₹ 50,000 and 4% commission on the sales over ₹ 50,000. Find his total income on the sale of ₹ 2,00,000.

Ms. Saraswati was paid ₹ 88,000 as a commission on the sale of computers at the rate of 12.5%. If the price of each computer was ₹ 32,000, how many computers did she sell?

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.

Priya gets a 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.

The income of a broker remains unchanged though the rate of commission is increased from 4% to 5%. Find the percentage reduction in the value of the business.

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.

Deepak’s salary was increased from ₹ 4,000 to ₹ 5,000. The sales being the same, due to reduction in the rate of commission from 3% to 2%, his income remained unchanged. Find his sales.

An agent is paid a commission of 7% on cash sales and 5% on credit sales made by him. If on the sale ₹ 1,02,000 the agent claims a total commission of ₹ 6,420, find his cash sales and credit sales.

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.

Swatantra Distributors allows 15% discount on the list price of washing machine. Further 5% discount is given for cash payment. Find the list price of the washing machine if it was sold for the net amount of ₹ 38,356.25.

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.

An agent charges 10% commission plus 2% delcreder. If he sells goods worth ₹ 37,200, find his total earnings.

A whole seller allows 25% trade discount and 5% cash discount. What will be the net price of an article marked at ₹ 1,600?

### Balbharati solutions for Mathematics and Statistics 2 (Commerce) 12th Standard HSC Maharashtra State Board Chapter 1 Commission, Brokerage and Discount Exercise 1.2 [Page 11]

What is the present worth of a sum of ₹ 10,920 due six months hence at 8% p.a. simple interest?

What is sum due of ₹ 8,000 due 4 months hence at 12.5% simple interest?

True discount on the sum due 8 months hence at 12% p.a. is ₹ 560. Find the sum due and present worth of the bill.

The true discount on a sum is `3/8` of the sum due at 12% p.a. Find the period of the bill.

20 copies of a book can be purchased for a certain sum payable at the end of 6 months and 21 copies for the same sum in ready cash. Find the rate of interest.

Find the true discount, banker’s discount and banker’s gain on a bill of ₹ 4,240 due 6 months hence at 9% p.a.

True discount on a bill is ₹ 2,200 and bankers discount is ₹ 2,310. If the bill is due 10 months, hence, find the rate of interest.

A bill of ₹ 6,395 drawn on 19^{th} January 2015 for 8 months was discounted on 28^{th} February 2015 at 8% p.a. interest. What is the banker’s discount? What is the cash value of the bill?

A bill of ₹ 8,000 drawn on 5^{th} January 1998 for 8 months was discounted for ₹ 7,680 on a certain date. Find the date on which it was discounted at 10% p.a.

A bill drawn on 5^{th} June for 6 months was discounted at the rate of 5% p.a. on 19^{th} October. If the cash value of the bill is ₹ 43,500, find face value of the bill.

A bill was drawn on 14^{th} April for ₹ 7,000 and was discounted on 6^{th} July at 5% p.a. The Banker paid ₹ 6,930 for the bill. Find the period of the bill.

If difference between true discount and banker’s discount on a sum due 4 months hence is ₹ 20. Find true discount, banker’s discount and amount of bill, the rate of simple interest charged being 5%p.a.

A bill of ₹ 51,000 was drawn on 18^{th} February 2010 for 9 months. It was encashed on 28^{th} June 2010 at 5% p.a. Calculate the banker’s gain and true discount.

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

A bill of a certain sum drawn on 28^{th} February 2007 for 8 months was encashed on 26^{th} March 2007 for ₹ 10,992 at 14% p.a. Find the face value of the bill.

### Balbharati solutions for Mathematics and Statistics 2 (Commerce) 12th Standard HSC Maharashtra State Board Chapter 1 Commission, Brokerage and Discount Miscellaneous Exercise 1 [Pages 11 - 13]

**Choose the correct alternative.**

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

Auctioneer

Del Credere Agent

Factor

Broker

**Choose the correct alternative.**

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

Factor

Broker

Auctioneer

Del Credere Agent

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

Legal Due Date

Grace Date

Nominal Due Date

Date of Drawing

The payment date after adding 3 days of grace period is known as ______.

The legal due date

The nominal due date

Days of grace

Date of drawing

The sum due is also called as ______.

Face value

Present value

Cash value

True discount

**Choose the correct alternative.**

P is the abbreviation of

Face value

Present worth

Cash value

True discount

Banker’s gain is simple interest on ______.

Banker’s discount

Face Value

Cash value

True discount

The marked price is also called as _____________.

Cost price

Selling price

List price

Invoice price

When only one discount is given, then ______

List price = Invoice price

Invoice price = Net selling price

Invoice price = Cost price

Cost price = Net selling price

The difference between face value and present worth is called ______.

Banker’s discount

True discount

Banker’s gain

Cash value

**Fill in the Blank.**

A person who draws the bill is called _______.

**Fill in the Blank.**

An _______ is an agent who sells the goods by auction.

Trade discount is allowed on the _______ price.

**Fill in the Blank.**

The banker’s discount is also called _______.

**Fill in the Blank.**

The banker’s discount is always _______ than the true discount.

The difference between the banker’s discount and the true discount is called _______.

The date by which the buyer is legally allowed to pay the amount is known as _______.

**Fill in the Blank.**

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

**Fill in the Blanks.**

If buyer is allowed both trade and cash discounts, _______ discount is first calculated on _______ price.

_______ = List price (catalogue Price) – Trade Discount.

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

True

False

Cash discount is allowed on list price.

True

False

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

Trade discount is allowed on catalogue price.

True

False

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

The buyer is legally allowed 6 days grace period.

True

False

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

The date on which the period of the bill expires is called the nominal due date.

True

False

The difference between the banker’s discount and true discount is called sum due.

True

False

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

The banker’s discount is always lower than the true discount.

True

False

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

The bankers discount is also called as commercial discount.

True

False

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

In general cash discount is more than trade discount.

True

False

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

A person can get both, trade discount and cash discount.

True

False

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 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

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?

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.

An article is marked at ₹ 800, a trader allows a discount of 2.5% and gains 20% on the cost. Find the cost price of the article.

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.

A merchant buys some mixers at 15% discount on catalogue price. The catalogue price is ₹ 5,500 per piece of a mixer. The freight charges amount to `2 1/2` % on the catalogue price. The merchant sells each mixer at 5% discount on catalogue price. His net profit is ₹ 41,250. Find a number of mixers.

A bill is drawn for ₹ 7,000 on 3rd May for 3 months and is discounted on 25^{th} May at 5.5%. Find the present worth.

A bill was drawn on 14^{th} April 2005 for ₹ 3,500 and was discounted on 6^{th} July 2005 at 5% per annum. The banker paid ₹ 3,465 for the bill. Find the period of the bill.

The difference between true discount and banker’s discount on 6 months hence at 4% p.a. is ₹ 80. Find the true discount, banker’s discount and amount of the bill.

A manufacturer makes clear profit of 30% on cost after allowing 35% discount. If the cost of production rises by 20%, by what percentage should he reduce the rate of discount so as to make the same rate of profit keeping his list prices unaltered.

A trader offers 25% discount on the catalogue price of radio and yet makes 20% profit. If he gains ₹ 160 per radio, what must be the catalogue price of the radio?

A bill of ₹ 4,800 was drawn on 9^{th} March 2006 at 6 months and was discounted on 19^{th} April 2006 for `6 1/4`% p.a. How much does the banker charge and how much does the holder receive?

A bill of ₹ 65,700 drawn on July 10 for 6 months was discounted for ₹ 65,160 at 5% p.a. On what day was the bill discounted?

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.

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.

## Solutions for Chapter 1: Commission, Brokerage and Discount

## Balbharati solutions for Mathematics and Statistics 2 (Commerce) 12th Standard HSC Maharashtra State Board chapter 1 - Commission, Brokerage and Discount

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Concepts covered in Mathematics and Statistics 2 (Commerce) 12th Standard HSC Maharashtra State Board chapter 1 Commission, Brokerage and Discount are Commission and Brokerage Agent, Discount.

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