Question 19
Business CalculationsUse the following information: A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock D3,000.
What is the rate of turnover?
- A.13.5 times
- B.10.8 times
- C.9 times
- D.5.4 times
Show the answer and explanation
Answer: B (10.8 times)
Explanation
Rate of turnover = 27,000 ÷ 2,500 = 10.8 times.