Question

Sales are 5,00,000 G.P is 20% on cost of sales. The G.P will be :​

Answer 1

Answer:

cost of goods sold = sales - gross profit

let cost be x

x = sale - x× 20%

x = 500000 - x×20/100

x= 500000 - x/5

x + x/ 5 = 500000

6x/5 =500000

6x = 2500000

x= 2500000/6

= 416667

gross profit = 500000-416667

= 83333