Question

If sales are 2,000 and the rate of gross profit on cost of goods sold is 25% then the cost of goods sold will be ?
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Answer 1

Answer:

This can be represented as :

Let us assume the Cost Price is Rs.100

Profit Margin on Cost is @25% i.e. Rs.25

There fore the selling Price will be = Cost +Profit =SP

=Rs.100+Rs.25=Rs.125

If the Sales are Rs.2000

the cost of goods sold will be Rs.2000/125*100

Cost of good sole =Rs.1600.

hope it helps happy new year

Answer 2

Answer:

Correct option is C)

This can be represented as :

Let us assume the Cost Price is Rs.100

Profit Margin on Cost is @25% i.e. Rs.25

There fore the selling Price will be = Cost +Profit =SP

=Rs.100+Rs.25=Rs.125

If the Sales are Rs.2000

the cost of goods sold will be Rs.2000/125*100

Cost of good sole =Rs.1600.

hope it helps you:-)

happy new year 2022