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If the GP ratio is12 percent on cost price and the selling price is Rs.224000,then gross profit will be -?
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If the GP ratio is12 percent on cost price and the selling price is Rs...
Gross Profit Calculation
To calculate the gross profit, we need to first determine the cost price and the GP ratio.
GP Ratio:
The GP ratio is given as 12% on the cost price. This means that the gross profit is 12% of the cost price.
Selling Price:
The selling price is given as Rs.224,000.
Cost Price Calculation:
To calculate the cost price, we need to use the formula:
Cost Price = Selling Price / (1 + GP Ratio)
Substituting the given values, we have:
Cost Price = 224,000 / (1 + 0.12)
Cost Price = 224,000 / 1.12
Cost Price ≈ 200,000
Gross Profit Calculation:
To calculate the gross profit, we need to use the formula:
Gross Profit = Selling Price - Cost Price
Substituting the calculated cost price and the given selling price, we have:
Gross Profit = 224,000 - 200,000
Gross Profit = 24,000
Therefore, the gross profit is Rs.24,000.
Explanation:
- The GP ratio is given as 12% on the cost price, which means that the gross profit is 12% of the cost price.
- The selling price is given as Rs.224,000.
- To calculate the cost price, we use the formula Cost Price = Selling Price / (1 + GP Ratio).
- By substituting the given values, the cost price is determined as Rs.200,000.
- To calculate the gross profit, we use the formula Gross Profit = Selling Price - Cost Price.
- By substituting the calculated cost price and the given selling price, the gross profit is determined as Rs.24,000.
Therefore, the gross profit is Rs.24,000.
To calculate the gross profit, we need to first determine the cost price and the GP ratio.
GP Ratio:
The GP ratio is given as 12% on the cost price. This means that the gross profit is 12% of the cost price.
Selling Price:
The selling price is given as Rs.224,000.
Cost Price Calculation:
To calculate the cost price, we need to use the formula:
Cost Price = Selling Price / (1 + GP Ratio)
Substituting the given values, we have:
Cost Price = 224,000 / (1 + 0.12)
Cost Price = 224,000 / 1.12
Cost Price ≈ 200,000
Gross Profit Calculation:
To calculate the gross profit, we need to use the formula:
Gross Profit = Selling Price - Cost Price
Substituting the calculated cost price and the given selling price, we have:
Gross Profit = 224,000 - 200,000
Gross Profit = 24,000
Therefore, the gross profit is Rs.24,000.
Explanation:
- The GP ratio is given as 12% on the cost price, which means that the gross profit is 12% of the cost price.
- The selling price is given as Rs.224,000.
- To calculate the cost price, we use the formula Cost Price = Selling Price / (1 + GP Ratio).
- By substituting the given values, the cost price is determined as Rs.200,000.
- To calculate the gross profit, we use the formula Gross Profit = Selling Price - Cost Price.
- By substituting the calculated cost price and the given selling price, the gross profit is determined as Rs.24,000.
Therefore, the gross profit is Rs.24,000.
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If the GP ratio is12 percent on cost price and the selling price is Rs.224000,then gross profit will be -?
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If the GP ratio is12 percent on cost price and the selling price is Rs.224000,then gross profit will be -? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about If the GP ratio is12 percent on cost price and the selling price is Rs.224000,then gross profit will be -? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the GP ratio is12 percent on cost price and the selling price is Rs.224000,then gross profit will be -?.
If the GP ratio is12 percent on cost price and the selling price is Rs.224000,then gross profit will be -? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about If the GP ratio is12 percent on cost price and the selling price is Rs.224000,then gross profit will be -? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the GP ratio is12 percent on cost price and the selling price is Rs.224000,then gross profit will be -?.
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