Calculate the revenue from operations if Gross Profit Ratio = 20% and Gross Profit for the year was ₹5,00,000.
Answer & explanation
Correct answer: option 3
Gross profit= 20%= ₹500000
So, sales= 500000X100/20
= ₹2500000
Calculate the revenue from operations if Gross Profit Ratio = 20% and Gross Profit for the year was ₹5,00,000.
Correct answer: option 3
Gross profit= 20%= ₹500000
So, sales= 500000X100/20
= ₹2500000