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Gross profit is 20% on cost and sales is 15000 then calculate gross profit.

Accounting Calculations
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Question added by Bhargav Tangudu
Date Posted: 2015/10/15
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Muhammad Tauqeer Sarwar
by Muhammad Tauqeer Sarwar , Sales, Estimator and Application Engineer , Tornado Group

we have simple formula CP= SP*100/100+%so CP will be 15000*100/100+20=1500000/120

=12500 will be our cost price

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