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What sales need to be to make same gross profit as before

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Question 1: A trader's gross profit for 2019 was Rs20,000 with a profit markup of 33 1/3%. Competition has forced him to reduce his markup to 25% in 2020. What his sales need to be to make same gross profit as before?

A Rs120,000

B Rs20,000

C Rs80,000

D Rs100,000

Question 2: A trader's gross profit for 2019 was Rs20,000 with a profit markup of 33 1/3%. Competition has forced him to reduce his markup to 25% in 2020. What his sales need to be to increase net profit by Rs5000 assuming additional overheads costs of Rs10,000

A Rs120,000

B Rs140,000

C Rs175,000

D Rs100,000

Question 3: Peter provides the following information.

Rs

stock 3200

debtors 3300

creditors 1560

bank 1060

loan 2000

PPE 500

accruals 60

Prepaid 100

The bank statement showed that during the year he had withdrawn Rs5000 for private use. He sold private investments for Rs2000 which he had paid into the business bank account. He also provided Rs1000 as depreciation

What is his profit?

A. Rs5300

B. Rs6300

C. Rs4300

D. Rs7300

Reference no: EM132607982

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