If cash sales Rs 90000 and credit sales rs 210000 and proprietor charged profit 25% on cost.CalculAte the gross profit.
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Total Sales = Rs.90,000 + Rs.2,10,000
= Rs.3,00,000
Total Sales = (Cost + Cost* 25%)
Rs.3,00,000 = Cost( 1 + 25%)
Rs.3,00,000 = Cost( 1.25)
Cost = 3,00,000/1.25
Cost = Rs.2,40,000
Gross Profit = Sales - Cost of Goods Sold
= Rs.3,00,000 - Rs.2,40,000
= Rs.60,000
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