Question
An item is sold at a profit of
35% when the profit is calculated on the selling price. What will the profit percentage be if calculated on the cost price? Round off your answer to the nearest integer.Solution
ATQ, Let the selling price of the item be Rs. '100x'. So, profit earned on selling the item = 100x × 0.35 = 35x So, cost price of the item = 100x - 35x = 65x Therefore, required profit earned = (35x/65x) × 100 = (700/13) ~ 54%
According to the MSMED Act if a buyer fails to make payment to the supplier as required, the buyer is liable to pay compound interest with monthly rests...
As per the Contract Act who are the persons competent to contract?
Institution of suits is provided under which section of CPC?
When are the shadow meetings conducted?
What type of resolution is required to be passed by a one-person company in order to borrow money?
Which of the following is NOT of one of the attributes of our Indian Constitution of 1950?
Consider the following statements about electronic records:
1. An electronic record must always be retained in the exact original format in which...
In State of Maharashtra v. M.H. George it was held that____________
Under Section 4 of the Indian Trusts Act, 1882, Mr. U creates a trust deed providing: "I settle this property upon Trustee V in trust to support politic...
Which of the following is not correct statement?
