1.

A fire occurred on 30th June 2020 in the Godown of Shri Krishna Trading Company. The rate ofgross profit is 25% on cost.The stock salvaged was valued at Rs.7200. Ascertain the claim to be lodged from the following figures: Stock on 1st April 2020 Rs. 48000; Wages and other direct expenses Rs. 61000; Purchase and sales from 1st April 2020 to the date of fire Rs. 111000 &Rs. 200000 respectively; Goods used by Shri Krishna (the proprietor) as cost Rs. 8000.

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