Shubham kumar (.) (620 Points)
14 December 2012
CA Bhargav Nathwani
(CA in Practice)
(8307 Points)
Replied 14 December 2012
Shubham kumar
(.)
(620 Points)
Replied 14 December 2012
Mehul Gada
(CA)
(319 Points)
Replied 14 December 2012
If i am not wrong answer should be 1,56,667.
On 10lacs he will earn profit of Rs. 1,66,667 and on sale of goods costing rs 30000 sold at 20000 will incurr loss of rs 10000.
Therfore my profit will be 1,66,667 - 10,000 = 1,56,667.
Mehul Gada
(CA)
(319 Points)
Replied 14 December 2012
20% on cost is 16.66% on sales.
Hey shubham are you sure answer is 2,40,000?
And what according to you should be the answer?
Shubham kumar
(.)
(620 Points)
Replied 14 December 2012
Mehul Gada
(CA)
(319 Points)
Replied 14 December 2012
Ya i also think 2,40,000 is the wrong answer. Then to confirm with some professor if u go to classes.
CA Alok Somani
(Qualified)
(82 Points)
Replied 14 December 2012
CA Manish
(Job)
(5264 Points)
Replied 14 December 2012
| Originally posted by : Mehul Gada | ||
 |
If i am not wrong answer should be 1,56,667. On 10lacs he will earn profit of Rs. 1,66,667 and on sale of goods costing rs 30000 sold at 20000 will incurr loss of rs 10000. Therfore my profit will be 1,66,667 - 10,000 = 1,56,667. |
 |
This is correct.
CA Manish
(Job)
(5264 Points)
Replied 14 December 2012
| Originally posted by : Bhargav Nathwani | ||
|
|
20% on cost so 25% on profie... Agree ? Normal Goods 10,00,000/-. Gross Profit = 10,00,000 * 25% = 250,000/-. less : Loss on damaged Goods = (10,000) Net G.P. 240,000 |
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Profit % on sales will be lower than the cost..
If 20% on cost then it will be 16.6666% on sales.
CA Alok Somani
(Qualified)
(82 Points)
Replied 14 December 2012
CAclubindia
