Ex. No. 1
1. An agent charges 12% commission on the sales. What does he earn if the total sales amount to Rs. 36,000? What does the seller get?
2. A Salesman receives 4% commission on the sales up to Rs. 10,000 and 5% commission on the sales over Rs. 10,000. Find his total income on the sales of Rs. 35,000.
3. An agent was paid Rs. 58,500 as commission on the sale of computers at the rate of 12.5%. If the price of each computer was Rs. 18,000, how many computers did he sell?
4. Sudha gets a salary of Rs. 1500 per month and commission at 8% on the sales over Rs. 10,000. If she gets Rs. 4500 in a certain month, find the sales made by her in that month.
5. A salesman is allowed 5 12% commission on the total sales made by him, plus a bonus of 12% on the sales over Rs. 20,000. if his total earnings amount to Rs. 3980. Find the sales made by him.
6. The income of a broker remains unchanged though the rate of commission is increased from 6% to 7.5%. Find the percentage reduction in the value of the business.
7. A salesman is paid a fixed weekly salary plus commission based on percentage of sales made by him. If on the sales of Rs. 18,970 and Rs. 19,780 in two successive weeks, he received in all Rs. 1,463.20 and Rs. 1,511.80, find his weekly salary and the rate of commission paid to him.
8. A salesman’s salary was increased from Rs. 3000 to Rs. 4000. On the same sales, due to reduction in the rate of commission from 2% to 1%, his income remained unchanged. Find his sales.
9. An agent is paid a commission of 4% on cash sales and 6% on credit sales made by him. If on the sale of Rs. 51,000 the agent claims a total commission of Rs. 2,700, find the sales made by him for cash and on credit.
10. Three cars were sold through an agent for Rs. 1,60,000, Rs. 1,48,000 and Rs. 1,50,000 respectively. The rates of commission were 17.5% on the first and 12.5% on the second. If one the whole the agent received 14% commission on the total sales. find the rate of commission paid on the third car.
11. A furniture dealer allows 20% discount on the list price and further discount of 5% for cash payment for a chair. Find the list price of the chair if it was sold for the net amount of Rs. 2090.
12. A wholesaler allows 25% trade discount and 5% cash discount. What will be the net price of an article marked at Rs. 1600?
13. A shopkeeper sold a T.V. for net amount of Rs. 14,450 after allowing 20% discount on the list price and further discount of 5% for cash payment. Find the list price of the T.V.
14. A book seller paid Rs. 1530 for a parcel of 50 books on which he had been given a discount of 15%. Find the list price of one book.
15. A furniture dealer sold a cupboard for Rs. 8832 after allowing 8% trade discount and 4% cash discount. If he made 38% profit, find the cost price and the marked price of the cupboard.
16. An agent charges 8% commission plus a 2% delcredere. If he sells goods worth Rs. 12,400, find his total earnings.
EX. No. 2. Formulae
- Sum Due = Present Worth + True Discount
- True Discount = P.W . x n x r/100
- Sum Due = P.W.(1+nr/100), where P = P.W.
- Banker’s Discount = Interest on Face Value (Or Sum Due) = S.D. x n x r/100
- Cash value = Face value - Banker’s Discount
- Banker’s Gain = Banker’s Discount - True Discount
- Banker’s Gain = Interest on True Discount
- Banker’s Gain = T.D. x n x r/100
- Bankers Discount = True Discount + Banker’s Gain
- Banker’s Discount = Amount of True Discount
- Banker’s Discount = T.D. (1+nr/100)
1. What is the present worth of a sum of Rs. 7,488 due six months hence at 8% p.a. simple interest.
2. What is the sum due of Rs. 5000 due 4 months hence at 12.5% p.a. simple interest?
3. True discount on a sum due 9 months hence at 16% p.a. is Rs. 600. Find the sum due and present worth of the bill.
4. The true discount on a sum is 3/8 of the sum due at 12% p.a. Find the period of the bill.
5. 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.
6. A certain sum due 3 months hence is 21/20 of the present worth. What is the rate of interest?
7. Find the true discount, banker’s discount and banker’s gain on a bill of Rs. 4,240 due 6 months hence at 9% p.a.
8. True discount on a bill is Rs. 1,800 and banker’s discount is Rs. 1,887. If the bill is due 10 months hence, find the rate of interest.
9. A bill of Rs. 4,015 drawn on 19th January 2006 for 8 months was discounted on 28th February 2006 at 8% p.a. interest, What is the banker’s discount? What is the cash value of the bill?
10. A bill of Rs. 4,000 drawn on 5th January 1998 for 8 months was discounted for Rs. 3,840 on a certain date. Fid the date on which it was discounted at 10% p.a.
11. A bill drawn on 3rd June for 6 months was discounted at the rate of 5% on 17th October. If cash value of the bill is Rs. 43,500, find face value of the bill.
12. A bill was drawn on 12th April for Rs. 3,500 and was discounted on 4th July at 5% p.a. The Banker paid Rs. 3465 for the bill. Find Period of the bill.
13. If difference between true discount and banker’s discount on sum due 4 months hence is Rs. 20, find true discount, banker’s discount and amount of the bill, the rate of simple interest charged being 5% p.a.
14. A bill of Rs. 25,500 was drawn on 18th February 2006 for 9 months. It was Encashed on 28 th June 2006 at 5% p.a. Calculate the banker’s gain and true discount.
15. A bill of a certain sum drawn on 28th February 2007 for 8 months was Encashed on 26th March, 2007 for Rs. 5496 at 14% p.a. find the face value of the bill.
16. A bill of Rs. 7,300 drawn on 7th June, 2007 was Encashed for Rs. 7108 on 22nd October, 2007. If the rate of interest was Rs. 12% p.a., what is the legal due date? Hence find period of the bill.