profit & loss
Please Please help me.
The profit and loss statement for the financial year of a company shows a sale of Rs 15200. The primary cost is 25% of sales and leading costs account for 20% of the gross profit. The gross profit is determined by deducting the primary cost plus the cost of miscellaneous expenses of Rs 1200. The managing director's salary of Rs 500 per annum plus 2% of annual sales is a minimum cost. What is the per cent profit on a capital investment of Rs 20000?
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Re: profit & loss
Hi maya007, what are your thoughts on how to tackle this problem?
It seems a bit tricky to follow,
I would start by calculating (15200 - 25%(15200) -1200) then take off 20% from your answer.