alleryStart learning →Goods cost ₹800 and sell for ₹1,000 before tax. All ₹100 tax collected is remitted. Profit?
A₹100
B₹900
C₹200
D₹300
Answer & Solution
Correct answer: C. ₹200
The remitted tax is not retained sales income; the profit is 1000 − 800 = ₹200.
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