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Calculate the amount of sales.Opening stock of Rs. 20,000, Purchase Rs.1,20,000, Closing Stock rs, 60,000, Gross Profit on sales is 20%. |
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Answer» COST = 20,000 + 1,20,000 - 60,000 = 80,000 sales = cost + PROFIT X = 80,000 + (x × 20/100) x = 80,000 + x/5 5x = 4,00,000 + x 4x = 4,00,000 x = 1,00,000 |
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