Question

Sales is ₹ 15,00,000 and the gross profit percentage is 20 % what would be the Gross Profit. *
₹ 15,00,000
₹ 12,00,000
₹ 3,00,000
₹ 18,00,000​

Answer 1

Explanation:

What will be the amount of gross profit if the rate of gross profit on sales is 20% and the cost of goods sold is RS. 100000?

Cost of goods sold is ₹100000

Gross profit is 20% on sales

Let the sales be X

Gross profit = Sales - COGS

20% of X = X - ₹1,00,000

20/100× X = X - ₹1,00,000

X/5 = X - ₹100000

X/5 - X = ₹100000

4X/5 = ₹100000

4X = ₹500000

X = ₹125000

Now, we will calculate the Gross profit on sales

G.P = 20% of ₹125000

G.P = 20/100× ₹125000

G.P = ₹25000

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