Question

if goods are sold at 25% profit on sales and the cost of goods sold is 300000 then gross profit will be
a) 1,00,000
b) 1,50,000
c) 2,00,000
d) 1,20,000​

Answer 1

a) 1,00,000

Gross Profit will be 1,00,000

Explanation:

Given :

• 25% profit on sales
• Cost of Goods Sold is 3,00,000

To find :

• Gross Profit

Solution :

Cost of Goods Sold = Net Sales - Gross Profit

Let,

Net Sales = x

3,00,000 = x - 25% of x

$300000=x-\dfrac{25}{100}x$

$300000=x-\dfrac{1}{4}x$

$300000=\dfrac{3}{4}x$

$\dfrac{3}{4}x=300000$

$x=300000\times \left(\dfrac{4}{3}\right)$

$x=\dfrac{300000\times 4}{3}$

$x=\dfrac{1200000}{3}$

$x=400000$

Net Sales = 4,00,000

Gross Profit = Net Sales - Cost of Goods Sold

Gross Profit = 4,00,000 - 3,00,000

Gross Profit = 1,00,000

Gross Profit = 1,00,000 = 25% on Sales

∴ a) 1,00,000

Gross Profit will be 1,00,000

Answer 2

Given : Goods are sold at 25% profit on sales & The cost of goods sold is 3,00,000.

Need To Find : Gross Profit .

⠀⠀⠀⠀⠀━━━━━━━━━━━━━━━━━━━⠀

❍ Let's Consider the Net sale be a .

$\dag\frak{\underline { As,\:We\:know\:that\::}}$

$\star\bf{\boxed{Cost \ of \ Goods \ sold = Net \;sales- Gross \:Profit \:}}$

As , We know that ,

• Gross Profit = Profit % of Net Sales

Or ,

• Gross Profit = 25% of x

⠀⠀⠀⠀⠀$\underline {\frak{\star\:Now \: By \: Substituting \: the \: known \: Values \::}}$

$\qquad:\implies \sf{ 3,00,000 = a - 25 \% of a }$

$\qquad:\implies \sf{ 3,00,000 = a - \dfrac{25}{100} \times a }$

$\qquad:\implies \sf{ 3,00,000 = a - \cancel {\dfrac{25}{100}} \times a }$

$\qquad:\implies \sf{ 3,00,000 = a - \dfrac{1}{4} \times a }$

$\qquad:\implies \sf{ 3,00,000 = \dfrac{3}{4} \times a }$

$\qquad:\implies \sf{ a = \bigg(\dfrac{4}{3}\bigg) \times 3,00,000 }$

$\qquad:\implies \sf{a = \dfrac{3,00,000\times 4}{3} }$

$\qquad:\implies \sf{a = \dfrac{12,00,000}{3} }$

⠀⠀⠀⠀⠀$\underline {\boxed{\pink{ \mathrm {  a = 4,00,000\: cm}}}}\:\bf{\bigstar}$

Therefore,

⠀⠀⠀⠀⠀$\therefore {\underline{ \mathrm {  Net \:Sales \:=\:\bf{4,00,000\: }}}}$

⠀⠀⠀⠀⠀━━━━━━━━━━━━━━━━━━━⠀

As, We already know that ,

$\star\bf{\boxed{ Gross \:Profit \:=\: Profit \:\%\: of\: Net \:Sales\:}}$

⠀⠀⠀⠀⠀$\underline {\frak{\star\:Now \: By \: Substituting \: the \: known \: Values \::}}$

$\qquad:\implies \sf{ Gross \:Profit\:= 25\: \% \:of \:400,000 }$

$\qquad:\implies \sf{ Gross \:Profit\:= \dfrac{25}{\cancel {100}} \times 400,0\cancel{00} }$

$\qquad:\implies \sf{ Gross \:Profit\:= 25 \times 4,000 }$

⠀⠀⠀⠀⠀$\underline {\boxed{\pink{ \mathrm { Gross \:Profit\:= 1,00,000\: }}}}\:\bf{\bigstar}$

Therefore,

⠀⠀⠀⠀$\therefore {\underline{ \mathrm { Hence,\: Gross\:Profit \:is\:\bf{\: 1,00,000}}}}$

⠀⠀⠀⠀⠀━━━━━━━━━━━━━━━━━━━⠀