JAIIB-AFB Recollected case study Mr. R is a traders in coal. the following figures have been taken

JAIIB-AFB Recollected case study Mr. R is a traders in coal. the following figures have been taken from the books of accounts Purchases--------------------------Rs.300000 Purchase Returns-----------------Rs.6000 Sales---------------------------------Rs.410000 Sales Returns----------------------Rs.10000 Opening Stock---------------------Rs.80000 Carriage & frieght------------------Rs.12000 Duty & cleaning charges---------Rs.4000 Wages-------------------------------Rs.8000 Closing stock-----------------------Rs.60000 Administrative Expenses---------Rs.25000 Selling & Distribution expenses-Rs.15000 Tax rate------------------------50% The Gross profit is____ a. Rs.62000 b. Rs.66000 c. Rs.56000 d. Rs.72000

 

I had the same question in my paper but they asked net profit which was 11000Gp was 66000