Question
Download Solution PDFCompany A sells goods of Rs. 5,00,000 in the third quarter of the Fiscal year 2020-21. The cost price and additional expenses of goods are accounted to be Rs. 3,25,000. What will be the profit after tax if 25% of tax is levied?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
S.P. = Rs. 500,000
C.P. = Rs. 325,000
Tax% = 25%
Formula used:
Profit = S.P. – C.P.
Profit after tax = Profit × (1 – (Tax ÷ 100))
Calculations:
Calculating profit earned
⇒ Profit = 5,00,000 – 3,25,000
⇒ Profit = 1,75,000
⇒ Profit after tax = 1,75,000 × (1 – (25 ÷ 100))
⇒ Profit after tax = 1,75,000 × 3 ÷ 4
⇒ Profit after tax = 43,750 × 3
⇒ Profit after tax = 1,31,250
∴ Profit after tax is Rs. 1,31,250
Last updated on May 28, 2025
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