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\(\begin{array}{c|c} & \text{Dept A} & \text{Dept B} \\ \hline & N & \\ \hline \text{Sales}...

Accounts - Principles of Accounts
JAMB 2017

\(\begin{array}{c|c} & \text{Dept A} & \text{Dept B} \\ \hline & N & \\ \hline \text{Sales} & 250 000 & 150,000 \\ \hline \text{Purchases} & 500,000 & 250 000 \\ \hline \text{Discount received} & 24 000 & \\ \hline \text{Discount allowed} & 15 000 & &
\end{array}\)

Determine the discount allowed by Department A

  • A. ₦5,000
  • B. ₦9,375
  • C. ₦5,625
  • D. ₦8,000
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Correct Answer: Option B
Explanation

To determine the discount allowed by Department B, the percentage of sales by Department B need to be calculated

Dep A 250,000

Dep B \(\frac{150,000}{400,000}\)

% of Dep A = \(\frac{250,000}{400000}\) X 100

= 62.5%

∴ Discount allowed in Dep A = \(\frac{62.5}{100}\) x 250,000

= ₦ 9,375

= ₦ 9,375


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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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