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13 November 2015 a and b entered into a joint venture for purchase and sale of typewriters.a purchased old typewriter costing ? 100000. repairing expenses ? 10000, ink expenses ?10000. B sold it at 20% margin on selling price. the sales value will be
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CA. Sunil Gokhale

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CA. Sunil Gokhale (Expert)
25 November 2015 Total cost = Rs.1,20,000
If profit is 20% of selling price then it means that cost of goods is 80% of selling price.
Selling price = 1,20,000 x 100/80
= Rs.1,50,000
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