Question

A fire occurred on 30th June 2020 in the Godown of Shri Krishna Trading Company. The rate of
gross profit is 25% on cost.The stock salvaged was valued at Rs.7200. Ascertain the claim to be
lodged from the following figures: Stock on 1st April 2020 Rs. 48000; Wages and other direct
expenses Rs. 61000; Purchase and sales from 1st April 2020 to the date of fire Rs. 111000
&Rs. 200000 respectively; Goods used by Shri Krishna (the proprietor) as cost Rs. 8000.

Answer 1

Answer:

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