Question

find out gross profit from the following data-sales 102000 sales retuns 2000 gross profit 25% on cost​

Answer 1

sale =sale-sales return

=102000-2000

=100000

Gross profit=sale -cost of sale

Sale=100000

Let cost =x

Hence GP is 25÷100x

We know that

Sale=cost +GP

100000=x+25÷100x

100000=x+1÷4x

100000=5÷4x

100000×4÷5=x

80000=x

Hence cost =80000

Then GP on cost is

=80000×25/100

=20000

Answer 2

Answer:

20,000

Explanation:

Given,

• Sales 102000
• sales return 2000
• gross profit 25% on the cost​

STEP  1 :

We know that,

Sales = sales - return inwards

= 1,02,000 - 2,000

= 1,00,000/-

Step 2 :

Gross profit = sales - the cost of goods sold/ COGS

so, let the COGS be "Y. "

Then gross profit becomes 25 / 100Y

STEP 3 :

Sales= COGS -+ Gross profit

100,000 = Y + 25 / 100Y

1,00,000 = 5 /4Y

100000 ×4/ 5=Y

Y = 80,000

STEP 4 :

Gross profit on cost is 25%

= 80,000 x 25/100

= 20,000/-

Hence, the Gross profit will be 20,000 rupees.

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