Question

A dealer purchased an old refrigerator for rupee 3500. He spent rupee 1,000 on its repair and sold it at a profit of 12%. What was the selling price of the refrigerator.

Answer 1

Answer:

Selling price of the refrigerator = 5040 rupees

Step-by-step explanation:

Cost price of the refrigerator = 3500 rupees

Money spent on its repair  = 1000

Percentage of profit = 12%

Therefore, profit = (12/100) × total price spent on refrigerator

          Profit =  (12/100) × (3500 +1000) = 540 rupees

Selling price of the refrigerator =total price spent on refrigerator + profit

                                                    = 3500 + 1000 + 540

Selling price of the refrigerator = 5040 rupees