Question

Calculate gross profit of the rate of gross profit is 25% on sales and cogs is 180000

Answer 1

given
cost of goods (cogs)  =180000
gross profit (gp) =0.25* sales 

sales =COGS + GP

let us take sales = x

x=1,80,000+0.25x
x-0.25x = 1,80,000
0.75x = 1,80,000
x= 1,80,000/0.75

therefor sales = 2,40,000

gross profit =0.25*2,40,000
                  =60,000
 
therefor gross profit = 60,000

Answer 2

Gross Profit = 60,000

Explanation:

Given:

Gross profit rate = 25%( On Sales)

Cost of goods sold = 1,80,000

Gross profit = ?

Computation:

Cost of goods sold = Sales - Gross profit

Cost of goods sold = Sales - Sales(25% on sales)

Cost of goods sold = Sales - 0.25 Sales

Cost of goods sold = 0.75 Sales

1,80,000 = 0.75 Sales

1,80,000 / 0.75 = Sales

2,40,000 =  Sales

Gross Profit =  Sales - Cost of goods sold

2,40,000 - 1,80,000

Gross Profit = 60,000

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