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## 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 DiscountExercise 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 DiscountExercise 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 DiscountMiscellaneous 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

**Choose the correct alternative.**

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

Legal Due Date

Grace Date

Nominal Due Date

Date of Drawing

**Choose the correct alternative.**

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

**Choose the correct alternative.**

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

**Choose the correct alternative.**

Banker’s gain is simple interest on

Banker’s discount

Face Value

Cash value

True discount

**Choose the correct alternative.**

The marked price is also called as _____________

Cost price

Selling price

List price

Invoice price

**Choose the correct alternative.**

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

**Choose the correct alternative.**

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.

**Fill in the Blank.**

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.

**Fill in the Blank.**

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

**Fill in the Blank.**

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.

**Fill in the Blanks.**

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

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

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

True

False

**State whether the following statement is True or 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

**State whether the following statement is True or 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.

## 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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