If gross profit ratio is 25% and gross profit is 800000.Then what is net sales ?
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Explanation:
Given :
Gross profit rate = 25%
Gross profit earned = Rs 8,00,000
To calculate = Net sales
Solution : We know that Gross profit rate = Gross profit / Net sales x 100
putting the values in the formula :
25 = 8,00,000 / Net sales x 100
25 = 8,00,00,000 / Net Sales
Hence Net sales = 8,00,00,000 / 25 = Rs 32,00,000
Hence Net Sales = Rs 32,00,000
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