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Question : Opening stock of medicines =  Rs.50,000.

Closing stock of medicines Rs.45,000 more than opening. 

Amount paid for medicines during the year = Rs 2,00,000.

Opening creditor = Rs.20,000.

Closing creditor 50% of opening creditors.

Amount of medicines consumed during the year is?

Option 1: Rs.1,35,000

Option 2: Rs.1,55,000

Option 3: Rs.1,45,000

Option 4: Rs.2,50,000


Team Careers360 2nd Jan, 2024
Answer (1)
Team Careers360 3rd Jan, 2024

Correct Answer: Rs.1,45,000


Solution : Amount paid for medicines =            Rs.2,00,000
(+) Opening stock                =            Rs.50,000
(-) Closing stock                  =            (Rs.95,000) [Rs.50,000 + Rs.45,000]
(+) Closing creditors           =             Rs.10,000 [Rs.20,000 X 50%]
(-) Opening creditors          =             (Rs.20,000)
Amount of medicines consumed =    Rs.1,45,000
Hence, the correct option is 3.

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