Find sale, if cost 50000, gross profit 10% on cost.
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Answer:
Gross Profit
= Rs. 454.1326067212
Explanation:
Gross Profit is calculated by the below equation:
Gross Profit = Sales - Cost of goods sold
In the given situation, gross profit is 10% on the cost of goods sold.
Hence, assume cost of goods sold is 100, than the sales will be Rs.100+ Rs.10 i.e. Rs.110
Accordingly
Cost of goods sold will be = Rs.50000 * 100
/110
Cost of goods sold = Rs. 4,541.3260672116
Therefore Gross Profit = Cost of Goods sold * 10%
Gross Profit = Rs. 4,541.3260672116 ×10 %
Gross Profit = Rs. 454.1326067212
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