Question

If the cost of goods sold is Rs. 1,20,000 and the rate of gross loss is 1/4 on sales, the amount of sales is equal to _________.

• A. Rs. 1,20,000
• B. Rs. 90,000
• C. Rs. 80,000
• D. Rs. 96,000

Answer 1

Answer: (B)

Rs. 90,000

Cost of goods sales is =1,20,000
gross loss= 1/4
the amount of sales = 1,20,000 x 1/4
= 30,000

= 1,20,000 - 30,000

= 90,000