Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.<br/>Opening stock = 1000<br/>Purchases = 7000<br/>Sales = 8000<br/>Closing stock = 3000<br/>Trading expenses = 1400<br/>From the figures given, calculate Percentage of net profit to turnover
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Correct Answer: Option D
Explanation:
The net profit is N1,600 and the turnover, represented by sales, is N8,000.<br/><br/>Percentage of net profit to turnover = (Net profit ÷ Turnover) × 100<br/>= (1600 ÷ 8000) × 100<br/>= 20%.<br/><br/>Therefore, the percentage of net profit to turnover is 20%.
The net profit is N1,600 and the turnover, represented by sales, is N8,000.<br/><br/>Percentage of net profit to turnover = (Net profit ÷ Turnover) × 100<br/>= (1600 ÷ 8000) × 100<br/>= 20%.<br/><br/>Therefore, the percentage of net profit to turnover is 20%.