\(\begin{array}{c|c} & \text{Dept A} & \text{Dept B} \\ \hline & N & \\ \hline \text{Sales}...
FINANCIAL
JAMB 2017
\(\begin{array}{c|c} & \text{Dept A} & \text{Dept B} \\ \hline & N & \\ \hline \text{Sales} & 250 000 & 150,000 \\ \hline \text{Purchases} & 500,000 & 250 000 \\ \hline \text{Discount received} & 24 000 & \\ \hline \text{Discount allowed} & 15 000 & &
\end{array}\)
Calculate the discount received in Department B
- A. N12,000
- B. N15,000
- C. N16,000
- D. N9,000
Correct Answer: B. N15,000
Explanation
Before calculating the discount received in Dep. B
We need to calculate the percentage of purchases for Dep B
Out of the total purchases
Dep. A purchases 150,000
Dep. B purchases 250,000
400,000 - Total purchases
there4; \(\frac{250,000 \times 24,000}{\text{(Total discount received)}}\) x 400,000
= 15,000
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