A shopkeeper buys an article for Rs. 16420 and spends Rs 580 on its repairs. If it is sold for a profit of 12%, find the selling price of the article.
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Answer:
₹19040
Step-by-step explanation:
CP = ₹16420
ECP (total cost price including repairs) = ₹16420 + ₹580 = ₹17000
Profit% =12%
Profit = 12% of CP
= ₹ 12/100 × 17000 = ₹2040
Now,
SP = CP +P
= ₹17000 + ₹2040
= ₹ 19040
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