Question

Cost of Good sold RS. 250000 , Gross Profit 20% on sales. Calculate Sales and Gross Profit.
b) Sales RS. 50000 and Gross Profit RS.10000. Calculate Gross Profit % on cost of Good sold. 2+2=4​

Answer 1

Answer:

cost of goods sold = sale - gross profit

250000= x- x×20/100

250000= x-x/5

250000=5x-x/5

250000= 4x/5

4x= 1250000

x=1250000/4

x= 312500

sale= 312500

gross profit =sale- cost

= 312500-250000

= 62500

b) gross profit =sale- cost

10000= 50000-cost

cost = 50000-10000

= 40000

% of gross profit on cost

= 10000/40000×100

= 25%