Question

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

Answer 1

Sales=Sales return

102000-2000=100000

GP=Sales-cost

sales=100000

So consider the cost as x

$\frac{25}{100x}$

So we can use the formula.

Sale=cost +GP

100000=$\frac{x+25}{100x}$

$100000=\frac{x+1}{4x}$

$100000=\frac{5}{4x}$

$10000*\frac{4}{5} =x$

$100000*\frac{4}{5} =x$

80000=x

Hence cost=80000

GP on cost

=$80000*\frac{25}{100}$

=$20000$