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Question
Sold goods of ₹ 1,00,000 at 10%. Trade Discount and 10% cash discount to Ram and received 50% amount by cheque. Calculate the amount of cheque received.
Solution
Trade discount = `1,00,000xx10/100` ( Trade Discount = 10% given)
=10,000
Net bill amount = Invoice price - T.D
1,00,000 - 10,000 = 90,000
Cash Discount = 10% of 90000 = `90000xx 10/100=9000`
Net bill amount after cash discount = 90000 - 9000 = Rs. 81000
50% amount received by cheque = `81,000xx50/100 `= Rs. 40,500
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