Emilia's revenue for the financial year 20X3 is £198 000.This revenue figure is 10% higher than the figure for the 20X2 financial year.The gross profit margin has remained the same for both years: 30%. What was Emilia's gross profit in 20X2?

Question

Quizplus · Accepted Answer

Emilia's revenue in 20X2 can be calculated by dividing the 20X3 revenue (£198,000) by 1.10 (since it's a 10% increase from 20X2). This gives £180,000 for 20X2. With a gross profit margin of 30%, the gross profit for 20X2 is 30% of £180,000, which equals £54,000.

Emilia's Revenue for the Financial Year 20X3 Is £198 000