Q.13. Calculate Net Sales and Gross Profit if Cost of Goods Sold is Rs. 1,00,000 and Gross Profit is 20% on Sales.

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Solution

Dear Student,

$C o s t o f g o o d s S o l d = R s 1, 00, 000 G r o s s P r o f i t = 1, 00, 000 \times \frac{1}{4} (\frac{1}{5} o n S a l e s = \frac{1}{4} o n C o s t) = R s 25, 000 S a l e s = 1, 00, 000 + 25, 000 = R s 1, 25, 000$

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