Sales during the year ended 31st March ,2021 was 12,00,000 and return inward was 2,00,000.Gross profit is 25% on cost .Find out Gross Profit and Cost of goods sold.
shopkeeper bought air conditioner for rs. 14,500 each. however as the weather was cool he had to sell them at 20% loss. find the selling price of each air conditioner.
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Answer:
This can be formulated as:
Sales - Cost of goods sold = Gross Profit
If sales is Rs.100
Then Gross Profit becomes Rs.25 (25% of sales)
Cost of Goods sold will be Rs.75 (Rs.100-Rs.25)
Cost of goods sols is equal to 75% of sales
Sales =Cost of goods sold/75%
Sales=Rs.100000
Step-by-step explanation:
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Answer:
shopkeeper bought air conditioner for rs. 14,500 each. however as the weather was cool he had to sell them at 20% loss. find the selling price of each air conditioner.
Step-by-step explanation:
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