Question

15. A man buys an article for 150 and makes overhead expenses which are 12% of the cost
price. At what price must he sell it to gain 5%?
(a) *180
(b) 2168 (c) *176.40 (d) 785​

Answer 1

Answer:

176.40

Step-by-step explanation:

Cost Price of purchase = 150

Overhead Expenses = 12 % of purchase price = 12% * 150 = 18

Thus, total cost price = 150 + 18 = 168

Profit percentage = 5%

Profit = Total Cost Price x Profit Percentage = 168 x 5% = 168 x 0.05 = 8.40

Selling Price = Total Cost Price + Profit = 168 + 8.40 = 176.40

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