1
Question
If gross profit ratio is 33.33% sales, it is ____________% on cost.
If gross profit ratio is 33.33% sales, it is ____________% on cost.
Open in App
Solution
The correct option is C 50%
Assume Sale = 300 and Gross profit = 33.33% on sales = 100Cost + Gross profit = SalesCost + 100 = 300Cost = 200Now, Gross profit % on Cost = Gross Profit x 100 Cost = [100/200 ] x 100 = 50%.
Assume Sale = 300 and Gross profit = 33.33% on sales = 100
Cost + Gross profit = Sales
Cost + 100 = 300
Cost = 200
Now, Gross profit % on Cost = Gross Profit x 100
Cost
= [100/200 ] x 100
= 50%.
Suggest Corrections
0
Similar questions