Final accounts of sole proprietor(non-manufacturing)

9) 20% on selling price is 1/5 . To find cost, reduce one number from the denominator. So, mark up profit will be on 25% of cost (ie, 1/4 ) ALWAYS DEDUCT ONE NUMBER FROM DENOMINATOR OF SELLING PERCENTAGE TO FIND COST PERCENTAGE. 11) Sales is the answer. Because he sold the goods already and it is lying in godown at buyer's risk

Shankari C

CA Inter

★ 12K+

06-Dec-22 11:38

9. Assume S.P=100, 20% profit on 100 is â?¹20 then C.P will be 80 Profit%on cost will be (20/80)Ã?100 So profit on cost is 25%

Kavya S

CA Inter

★ 3K+

06-Dec-22 11:32