Question

Arif bought a second hand car for 80000 and spent 12.5% of the cost of the car
on its repairs. At what price should he sell the car to make a profit of 15%?​

Answer 1

Given

Cost price of second hand car =₹80,000

spent 12.5% on repairs

To Find

Selling price of the car

$\sf\huge\bold{\underline{\underline{{Solution}}}}$

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Basic Concepts [ For remind ]

Profit loss

=>The cost at which an articles is purchased is called its cost price (CP)

=>The cost at which an articles sold is called its selling price (SP).

⋆If SP is greater than CP then it is profit or gain.

⋆If CP is greater than SP then it is loss.

IMPORTANT FORMULAE

Gain = (S.P.) - (C.P.)

Loss = (C.P.) - (S.P.)

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Cost price of car =₹80,000

Spent on its repairs =12.5% of ₹80,000

$= > 80000 \times \frac{125}{1000} = 80 \times 125$

$= 10000$

Now,Arif spent his ₹10,000 on repairs So,it's a overhead expense we have to deduct from the cost price of the car.

=>₹80,000-₹10,000=₹70,000

Now , new price of car =₹70,000

On ₹70,000 we have to calculate a profit of 15% then the value comes will be our selling price.

$= > 70000 \times \frac{15}{100}$

$= > 700 \times 15 = 10500$

∴Selling price of car is $\bold{\red{₹\:10,500+₹\:70,000=₹80,500}}$

Answer 2

Answer:

Solution,

Cost price = 80000

Cost price with repairing cost = 80000+ 12.5% of 80000

=90000

Let,Selling price be Rs x

15% of 90000 + 90000 = x

or x =Rs.103500

Therefore he should sell it on Rs.103500