Hi Palak
Let cost be x
Profit =33.33% of x=0.33x=x/3
Cost+Profit=Sales
x+X/3=Sales
4x/3=Sales
4x/3=40000+60000
4x/3=100000
x=100000*3/4
x=75000
Cost=75000
Opening stock+purchase-cl stock=75000
20000+70000-cl stock=75000
cl stock=20000+70000-75000=15000
Written on Jan. 21, 2017, 2:30 p.m.