If the cost of goods sold is Rs. 1,20,000 and gross loss is $${\frac{1}{4}^{{\text{th}}}}$$ of the selling price, then the selling price would be
or
If cost of goods sold is Rs. 1,20,000 and gross loss is 25% of sales, then what will be the amount of sales?

If the cost of goods sold is Rs. 1,20,000 and gross loss is $${\frac{1}{4}^{{\text{th}}}}$$ of the selling price, then the selling price would be
or
If cost of goods sold is Rs. 1,20,000 and gross loss is 25% of sales, then what will be the amount of sales? Correct Answer Rs. 96,000

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Variable production cost - Rs 1.20 per unit
Variable selling cost - Rs 0.40 per unit
Fixed production cost - Rs 4 per unit
Fixed selling cost - Rs 0.80 per unit
Budgeted production and sales for the year are 10,000 units."