Question on: SS2 Commerce - Calculation of gross and net profit to turnover.
The formula for calculating gross profit margin is:
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A
(Turnover / Gross Profit) X 100
B
(Gross Profit / Turnover) X 100
C
(Net Profit / Turnover) X 100
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Correct Option: B
(Gross Profit / Turnover) X 100
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