From the following information calculate Gross Profit and Gross Profit Ratio and comment :
units sold 1500 selling price 80rs cost price 60rs
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Answer:
30000 & 25 %
Explanation:
total sales = sp × no of units sold
= 80 × 1500
= ₹120000
total cost = 1500 × 60 = ₹90000
Gross profit = sales - cost
= ₹120000 - ₹90000 = ₹30000
Gross Profit Ratio = gp / sales × 100
= 30000/120000 × 100
= 25%
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