A trader sells goods at an average margin of 20%. His cost of sales for the month amounted to N720,000. What is his profit figure?
- N900,000
-
N864,000
- N840,000
- N180,000
The correct answer is: B
Explanation
\(\frac{20}{100}\) x 720,000 = 144,000
720,000 + 144,000 = 864,000