at what price should jalpa sell a stove which she has purchased for 6500, to earn a profit of 24%?
Answers
In context to question asked,
We have to determine the Selling price of stove if the Jalpa buys the stove at Rs. 6500 and willing to earn a profit of 24%.
As we know that that,
Profit % is calculated on Cost Price.
So, From question,
Cost price of stove is Rs. 6500
As he wish to earn a profit of 24%.
So, Profit will be
Hence, he wish to earn a profit of Rs. 1560.
As we know that,
So, for determining the value of SP we will put the value of CP and Profit in above expression.
We will get,
Hence, selling price of the stove must be Rs. 8060.
As per the details provided in the question.
In the above question, we have the details as follow.
Given data is cost price of stove is 6500
Profit =24%
We have to find the selling price.
Here we have to use profit percentage formula to get the profit and then add with cost price to know the value of selling price.
Thus, the profit of stove is,
Substituting the given value in above equation we get,
Therefore S.P=Profit +cost price
Hence jalpa should sell stove at a price of 8060