Question

Find out sales when the cost of goods sold is Rs 1,60,000 and the gross profit ratio of 20%.
a) 2,00,000
b) 40,000
c) 2,40,000
d) 1,20,000​

Answer 1

Answer:

Cost of goods sold will be = Rs.150000 * 100

120

Cost of goods sold = Rs. 125000

Therefore Gross Profit = Cost of Goods sold * 20%

Gross Profit = Rs.125000 * 20%

Gross Profit = Rs.25000