Skip to content

Calculate Gross… (Class 12 Accountancy SQP 2024-25, Q33a)

questionbuddy.in/q/cbse-12-accountancy-2024-25-sqp-q33a-calculate-gross-profit-ratio-information

AccountancyCBSE Class 12 · Sample paper, session 2024-25 · 4 marks · Very short answer

CBSE Class 12 Accountancy sample paper 2024-25: question 33(a)

From the official CBSE sample question paper for 2024-25, section B-I, question 33(a), for 4 marks. Try it first; the hints and our step-by-step solution are below.

Q33(a) · 4 marks · Very short answerAccounting Ratios

Calculate Gross Profit Ratio from the following information
Revenue from Operations ₹ 10,00,000; Purchases ₹ 3,60,000; Carriage Inwards ₹ 50,000; Employee benefit Expenses ₹ 1,00,000 (including Wages of ₹ 60,000); Opening Inventory ₹ 60,000 and Average Inventory ₹ 80,000.

Source: official sample paper from cbseacademic.nic.in (PDF). See it in the full Sample paper 2024-25.

Hints

Open one hint at a time and try again before the next.

Hint 1

Get closing inventory from the average.

Hint 2

Only wages (a direct expense) from employee benefits go into cost of revenue.

Hint 3

GP ratio = gross profit / revenue from operations × 100.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. Closing inventory: average ₹ 80,000 = (60,000 + closing)/2, so closing = ₹ 1,00,000.

    1 mark

  2. Cost of revenue from operations = opening inventory 60,000 + purchases 3,60,000 + carriage inwards 50,000 + wages 60,000 − closing inventory 1,00,000 = ₹ 4,30,000.

    1½ marks

  3. Gross profit = ₹ 10,00,000 − ₹ 4,30,000 = ₹ 5,70,000; gross profit ratio = 5,70,000 / 10,00,000 × 100 = 57%.

    1½ marks

Answer: Gross profit ratio 57% (gross profit ₹ 5,70,000 on revenue ₹ 10,00,000)

Where the marks are

  • Closing inventory (1 mark)
  • Cost of revenue from operations (1½ marks)
  • Gross profit and ratio (1½ marks)

Revise the chapter

  • Chapter: Accounting Ratios (notes, formulas, where marks are lost and every past question)
Practise this chapterBoard-style questions from Accounting Ratios, one at a time, marked against the answer key and marking points.Back to the full paperSample paper 2024-25: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.