Question

If businessman earns gross profit at 1/9th of cost. If sales are Rs 90,000, gross profit will be

Answer 1

Answer:

10,000.....

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Answer 2

Given,

Gross profit = 1/9th of the cost

Sales = Rs. 90.000

To find,

The Gross Profit

Solution,

We know that the gross profit is calculated by the formula which is given below:

Gross profit = Sales – Cost

Putting the value of cost and sales in the formula:

Gross profit = Rs. 90.000 – 9gross profit

Let the gross profit be x

So, x + 9x = Rs. 90,000

10x = Rs. 90,000

X = Rs. 90,000/10

X = Rs. 10,000

Gross profit = Rs. 10,000

Hence, the gross profit of the businessman is Rs. 10,000