Question

if the gross profit is 12% on cost price and the selling price is 224000,then gross profit will be?​

Answer 1

Mark as Brainliest please..

Answer 2

24,000 = Gross profit

Explanation:

Gross Profit = 12%(on cost)

Selling price = 2,24,000

Gross Profit = ?

Computation:

Selling price = Cost of goods sold + Gross Profit

Selling price = Cost of goods sold + Cost of goods sold(Gross profit rate)

2,24,000 = Cost of goods sold + 0.12 Cost of goods sold

2,24,000 = 1.12 Cost of goods sold

2,24,000 / 1.12 = Cost of goods sold

2,00,000 = Cost of goods sold

Selling price = Cost of goods sold + Gross profit

2,24,000 = 2,00,000 + Gross profit

2,24,000 - 2,00,000 = Gross profit

24,000 = Gross profit

Learn more:

https://brainly.in/question/14324548

#learnwithbrainly