Calculate the gross profit /loss if:

Sales Rs. 60,000; Cost of sales Rs. 50,000; Opening stock Rs. 10,000; Purchases Rs.40,000; Wages Rs. 20,000 and Office rent Rs. 10,000.

Loss of Rs. 10,000

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Profit of Rs. 10,000

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Profit of Rs. 10,000

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None of the above

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Solution

The correct option is B
Profit of Rs. 10,000

Gross profit
= Sales - Cost of sales

= Rs. 60,000 - Rs. 50,000

= Rs. 10,000

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Calculate the gross profit /loss if: Sales Rs. 60,000; Cost of sales Rs. 50,000; Opening stock Rs. 10,000; Purchases Rs.40,000; Wages Rs. 20,000 and Office rent Rs. 10,000.

The correct option is B Profit of Rs. 10,000 Gross profit = Sales - Cost of sales = Rs. 60,000 - Rs. 50,000 = Rs. 10,000

Calculate the gross profit /loss if:

Sales Rs. 60,000; Cost of sales Rs. 50,000; Opening stock Rs. 10,000; Purchases Rs.40,000; Wages Rs. 20,000 and Office rent Rs. 10,000.

The correct option is B
Profit of Rs. 10,000

Gross profit
= Sales - Cost of sales

= Rs. 60,000 - Rs. 50,000

= Rs. 10,000