Question

Akshay purchased goods costing ₹5,00,000 and sold at 20% profit on cost. Calculate the selling price of goods.​

Answer 1

the selling price of the goods is ₹6,00,000

Explanation:

The computation of the selling price of the goods are shown below:

As we know that

Selling price = Cost price + profit

= 5,00,000 + 5,00,000 × 0.20

= 5,00,000 + 1,00,000

= ₹6,00,000

Hence, the selling price of the goods is ₹6,00,000