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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › problem in calculation of percentage
Dear respected sir.
Say, profit is $400 which is 120% of sales price. find out sales price. I am totally stuck by this question. Is this question correct?
If the question is correct then plz explain, otherwise guide me how this is incorrect?
Waiting for your expert opinion.
Saying that the profit is 120% of the sales price means that the profit is more than the sale price (1.2 x sales price)
This is not possible, you cannot make more profit on something than the price you are selling it for.