Question 15
Incomplete RecordsUse the following information to answer questions 14 and 15
A trader bought goods worth ₦16,000 and sold three-quarter of it for ₦20,000
The margin would be
- A.2/3
- B.3/5
- C.1/2
- D.2/5
Show the answer and explanation
Answer: D (2/5)
Explanation
Margin = gross profit ÷ sales = 8,000 ÷ 20,000 = 2/5.