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Hello Tutor.Please help.
If and the sales are 20000,tax rate is 28% and Net profit is 2%,What is your profit before tax?The net profit is 2% x 20,000 = 400.
This is after tax of 28%, and so 400 is 72% (100 – 28) of the profit before tax.
So the profit before tax = 400 / 72% = 555.56
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