If the cost of goods sold is Rs. 1,20,000 and gross loss is $${\frac{1}{4}^{{\text{th}}}}$$ of the selling price, then the selling price would be
or
If cost of goods sold is Rs. 1,20,000 and gross loss is 25% of sales, then what will be the amount of sales?
A. Rs. 90,000
B. Rs. 96,000
C. Rs. 1,20,000
D. Rs. 1,26,000
Answer: Option B
This Question Belongs to Commerce >> Accounting
Let, selling price is tk100. So loss is 25%= tk 25.then cost price is 100+25=125. If cost is 125 then sell is 100.then cost 120000 when selling price is (120000/125) *100= tk 96000.
SELLING PRICE WILL BE 160000.