Accounting Multiple Choice Question – 23 February 2022

If the GP margin is 25% and sales were £300,000, calculate the value of gross profit?

Select ONE answer:

1. £50,000
2. £60,000
3. £75,000
4. £100,000

Show your workings to arrive at your answer, and explain and justify your reasons:

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This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct ==> £300 * 0.25 = £75k
4. Not correct

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