Question

if cost of goods sold =40000 and groos profit is 20% of sales calculate sales​

Answer 1

Answer:

48000

Explanation:

Cost Price = 40000

Profit 20%

Selling Price = 120÷100×40000 = 48000

Answer 2

Answer:

Net Sales is Rs 50,000

Explanation:

Given :

• Cost of Goods Sold = Rs 40,000

• Gross Profit is 20 % of Sales

To find :

• Calculate Sales

Solution :

Let,

Net Sales = y

Cost of Goods Sold = Net Sales - Gross

Profit

40,000 = y - 20 % of y

$\sf{40,000=y- \dfrac{20}{100}y}$

40,000 = y - 0.2y

40,000 = 0.8y

y = 40,000 ÷ 0.8

y = 50,000

Net Sales = Rs 50,000

• (Gross Profit = 20 % of 50,000 = Rs 10,000)

Therefore,

Net Sales is Rs 50,000