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CA CPT June 2018 Question Paper Fundamentals of Accounting for online practice

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Question : 17

Total: 53

A bought goods of the value of Rs. 10,000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs. 1,000 for freight and insurance. A draws a bill on B for Rs.10,000. A got it discounted at Rs, 9,500, B sold the goods for Rs. 15,000 . Commission payable to B is Rs. 500. Find out the profit on venture?

Rs. 3,000
Rs. 3,500
Rs. 4,000
Rs. 3,200

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