WAEC - Accounts Principles Of Accounts (2017 - No. 30)
A trader sells goods at an average margin of 20%. His cost of sales for the month amounted to N720,000. What is his profit figure?
N900,000
N864,000
N840,000
N180,000
Explanation
\(\frac{20}{100}\) x 720,000 = 144,000
720,000 + 144,000 = 864,000
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