Question

Sales 3,00,000; Purchases 2,10,000; Wages 20,000; Closing Stock was 10,000 more
than Opening Stock. What was the Percentage Profit on cost?
(a) 25%
(b) 30.43%
(C) 36.36%
(d) None of these​

Answer 1

Answer:

(a) 25%

Explanation:

first you have to find the G.P by letting the opening stock "x" then find the gp% on sale then find gp% on cost.

1/5 on sales then 1/4 on cost i.e 25%

Answer 2

Explanation:

COGS = 10,000 + 2,10,000 + 20,000 - 20,000

= 2,20,000

GP = 3,00,000 -2,20,000

= 80,000

=80,000/2,20,000 × 100

= 36.36

Therefore,

option (c) 36.36%

Percentage Profit on cost = 36.36%