# SCERT Maharashtra Question Bank solutions for 12th Standard HSC Mathematics and Statistics (Commerce) Maharashtra State Board 2022 chapter 2 - Commission, Brokerage and Discount [Latest edition]

## Chapter 2: Commission, Brokerage and Discount

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Q.1

### SCERT Maharashtra Question Bank solutions for 12th Standard HSC Mathematics and Statistics (Commerce) Maharashtra State Board 2022 Chapter 2 Commission, Brokerage and Discount Q.1

#### MCQ [1 Mark]

Q.1 | Q 1

Choose the correct alternative:

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

• ₹ 6,000

• ₹ 7,550

• ₹ 7,500

• ₹ 1,500

Q.1 | Q 2

Choose the correct alternative:

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

• ₹ 660

• ₹ 750

• ₹ 400

• ₹ 5,940

Q.1 | Q 3

Choose the correct alternative:

If A bill of ₹ 6,395 drawn on 15th February 2015 for 10 months was discounted on 28th May 2015 at 8% p.a. interest, then legal due date is ______

• 15th December 2015

• 15th November 2015

• 18th December 2015

• 18th November 2015

Q.1 | Q 4

Choose the correct alternative:

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

• Legal Due Date

• Days of grace

• The Nominal Due date

• Date of Drawing

Q.1 | Q 5

Choose the correct alternative:

The marked price is also called as ______

• Cost price

• Selling price

• Invoice price

• List price

Q.2

### SCERT Maharashtra Question Bank solutions for 12th Standard HSC Mathematics and Statistics (Commerce) Maharashtra State Board 2022 Chapter 2 Commission, Brokerage and Discount Q.2

#### Fill in the blanks [1 Mark]

Q.2 | Q 1

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

Q.2 | Q 2

The difference between the ______ and the true discount is called Banker’s Gain (B.G). It is equal to the interest on true discount

Q.2 | Q 3

The buyer is legally allowed ______ days grace period

Q.2 | Q 4

The date on which the bill is drawn is called as ______

Q.2 | Q 5

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

Q.3

### SCERT Maharashtra Question Bank solutions for 12th Standard HSC Mathematics and Statistics (Commerce) Maharashtra State Board 2022 Chapter 2 Commission, Brokerage and Discount Q.3

Q.3 | Q 1

State whether the following statement is True or False:

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

• True

• False

Q.3 | Q 2

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

• True

• False

Q.3 | Q 3

State whether the following statement is True or False:

A person can get both, trade discount and cash discount

• True

• False

Q.3 | Q 4

State whether the following statement is True or False:

The sum due is also called as Cash value

• True

• False

Q.3 | Q 5

State whether the following statement is True or False:

If only one discount is given then List price = Invoice price

• True

• False

Q.4

### SCERT Maharashtra Question Bank solutions for 12th Standard HSC Mathematics and Statistics (Commerce) Maharashtra State Board 2022 Chapter 2 Commission, Brokerage and Discount Q.4

#### Solve the following problems [3 Mark]

Q.4 | Q 1

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.

Q.4 | Q 2

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

Q.4 | Q 3

Swastik Distributers 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

Q.4 | Q 4

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

Q.4 | Q 5

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?

Q.5

### SCERT Maharashtra Question Bank solutions for 12th Standard HSC Mathematics and Statistics (Commerce) Maharashtra State Board 2022 Chapter 2 Commission, Brokerage and Discount Q.5

#### Solve the following problems [4 Marks]

Q.5 | Q 1

A bill was drawn on 14th April for ₹ 7,000 and was discounted on 6th July at 5% p.a. The Banker paid ₹ 6,930 for the bill. What is the legal due date

Q.5 | Q 2

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

Q.5 | Q 3

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.

Q.5 | Q 4

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.

Q.6

### SCERT Maharashtra Question Bank solutions for 12th Standard HSC Mathematics and Statistics (Commerce) Maharashtra State Board 2022 Chapter 2 Commission, Brokerage and Discount Q.6

#### Activity [4 Marks]

Q.6 | Q 1

A bill of ₹ 8,000 drawn on 5th January 2019 for 8 months was discounted for ₹ 7,680 on a certain date. Find the date on which it was discounted at 10% p.a.

Solution: Banker’s Discount

B.D.= F.V. − C.V. = 8,000 −7,680 = ₹ 320

Date of drawing = 5th January 2019

Period = 8 months

Nominal due date = square

Legal due date = square

B.D. = Interest on F.V. for n at 10% p.a.

∴ B.D. = ("F.V." xx "n"/365 xx "r")/100

∴ 320 = (8000 xx "n"/365 xx 10)/100

∴ n = square days

 April May June July Aug Sep Total 15 31 30 31 31 square square

∴ Date of discounting is square

Q.6 | Q 2

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

## Chapter 2: Commission, Brokerage and Discount

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## SCERT Maharashtra Question Bank solutions for 12th Standard HSC Mathematics and Statistics (Commerce) Maharashtra State Board 2022 chapter 2 - Commission, Brokerage and Discount

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Concepts covered in 12th Standard HSC Mathematics and Statistics (Commerce) Maharashtra State Board 2022 chapter 2 Commission, Brokerage and Discount are Commission and Brokerage Agent, Discount.

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