Finance Numericals

  Discount: It is a reduction amount offered to customers on goods sold to them. For example: 1 pencil set (contain 10 pencils) list price is Rs. 50. Seller offered 1% discount on it. So, the customer purchase the pencil set on Rs. 45. There are two types of discount: Trade discount Cash discount Trade discount: This type of discount is offered by whole seller to customer on list price of goods. When a customer purchase goods on bulk then whole seller give discount on those goods.  It is given to increase sale. The payment made in trade discount is in cash or credit. It is offered to customers by seller at the time of purchase. Cash discount: This type of discount is offered by seller to customer for payment in particular time. It is only offered to get payment from customers. It is given by seller to its customer to get quick payment. The payment made in cash discount is in cash form only. It is offered to customers by seller at the time of payment. L...