Question

A tape recorder was bought by ravi for rs 1675 and he repaired it by spending rs 825. If Ravi expects to get a profit of 8 % on his sale, What should be the selling price?

Answer 1

Solution :-

Purchase price of the tape recorder = Rs. 1675

Repair expenses incurred by Ravi = Rs. 825

Net purchase price of the tape recorder = Rs. 1675 + Rs. 825

= 2500

Now, profit required = 8 % 

∴ Cost Price + Profit = Selling Price

⇒ 2500 + 8 % of 2500 = Selling Price

⇒ 2500 + (2500*8)/100

⇒ 2500 + 200 

⇒ Selling Price = Rs. 2700 

Hence, to get 8 % profit, Ravi must sell the tape recorder for Rs. 2700.
   
Answer.

Answer 2

Solution :-

Purchase price of the tape recorder = Rs. 1675

Repair expenses incurred by Ravi = Rs. 825

Net purchase price of the tape recorder = Rs. 1675 + Rs. 825

= 2500

Now, profit required = 8 %  

∴ Cost Price + Profit = Selling Price

⇒ 2500 + 8 % of 2500 = Selling Price

⇒ 2500 + (2500*8)/100

⇒ 2500 + 200  

⇒ Selling Price = Rs. 2700  

Hence, to get 8 % profit, Ravi must sell the tape recorder for Rs. 2700.