Question

Calculate Net Sales and Gross Profit from the following information:
Cost of Goods Sold =₹ 1,00,000; Gross Profit = 20% on Sales =rupees 20​

Answer 1

Answer:

net sales = 125000 and gross profit = 25000

Explanation:

gross profit  percentage formula:

= gross profit / sales * 100

now insert the values

sales = cost of sales + gross profit

since cost of sales is given and gross profit is also give we can find the sales

and place it initially as x

x = 100000 + 20% * x

x-20%*x = 100000

x-0.2x = 100000

0.8x = 100000

x = 100000/0.8

x=125000

hence :

net sales = 125000  

gross profit = 20% * 125000 = 25000

hence :

gross profit = 25000

hope this helps you and please mark as brainiest

#answerwithquality and #BAL

Answer 2

Answer:

gross profit=25,000 sales= 1,25,000

Explanation:

If Sales is Rs 100, Gross Profit = 20% on Sales = Rs 20 ∴ ∴ Cost will be Rs 80 (i.e., R s 100 − R s 20 Rs100-Rs20)

If Cost of Goods Sold = R s 1 , 00 , 000,

Sales = R s 1 , 00 , 000 × R s 100 / R s 80 = R s 1 , 25 , 000

Gross Profit = Sales - Cost of Goods Sold = R s 1 , 25 , 000 − R s 1 , 00 , 000 = R s 25,000