Homework Answers
Question 1:
Answer: 456
Explanation:
Given, inventory is marked at R480.
Also given, there is a 5% cash discount.
:. Cash received by the business =
Selling Price - Cash Discount
= R480 - 5%
= R480 - (480*5/100)
= R480 - R24
= R456
Question 2 :
Answer : 1000
Explanation:
Given, amount paid with trade discount = R980
Also given, trade discount = 2%
Amount a customer would have to pay without discount =
R980 * 100 ÷ (100-2)
= R980 * 100 ÷ 98
= R1000
Question 3 :
Answer: 1,600
Explanation:
Given, sales price = R1 760
Also given, sales is made 10% above cost.
Let cost be 100%.
Then, sales price will be 100% + 10% = 110%
:. Cost of the inventory =
R1760 * 100÷ 110
R1600
Question 4:
Answer: 15,000
Explanation:
Given, Mr. Troubles decided to maintain a gross profit of 25% on sales.
Also given, sale value = R20 000
Original cost price of goods
= Sale value - Gross Profit
= 20,000 - 25%
= 20,000 - 5000
= R15,000
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Please how to get the answer and explain the steps to get the correct answer listed...
Please how to get the answer
and explain the steps to get the correct answer listed at the
bottom in parenthesis
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original invoice
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Please how to get the answer
and explain the steps to get the correct answer listed at the
bottom in parenthesis
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