Question

Atul purchased a table for 2500. He later sold it for 3720 with a profit of 24%. What was the overhead expense for the table?​

Answer 1

Answer:

Step-by-step explanation:

Given :-

CP = Rs.2500

SP = Rs.3720

Gain % = 24 .

To Find :-

What was the overhead expense for the table ?

Formula used :-

CP = ( SP * 100 ) / (100 + Gain%) .

Solution :-

it is given That, when Atul sold the table for Rs.3720 , he has a gain of 24% .

So,

→ Total CP of Table = 3720 * 100 / (100 + 24)

→ Total CP = (3720 * 100) / (124)

→ Total CP = Rs.3000

So, we can say That, Cost Price of Table with overhead expense is Rs.3000 .

So,

→ Total CP = CP of Table + overhead Price.

→ 3000 = 2500 + overhead Price .

→ overhead Price = 3000 - 2500

→ overhead Price = Rs.500 . (Ans).

Hence, Overhead expense for the table is Rs.500.

Answer 2

$\sf \: Solution:-$

Let's overhead on the table be;₹ X, Then Total expenses on table by Atul ₹(250+x)

Selling price of the table = ₹3720

profit = ₹(3720-2500-x)

= ₹(1220-x)

Profit % =

$[ \sf( \frac{₹(1220 - x)}{₹(2500 + x)}) \times 100]percent \\ \\ \sf = \: 24percent = ( \frac{1220 - \times }{2500 + x} \times 100 )percent \\ \\ \sf= 24 \times 2500 + 24x = 122000 - 100x \\ \sf \ = 124x = 122000 - 60000 \\ \sf x= \frac{182000}{124} \\ \sf x = 500$

Hence, Overhead expenses is

₹500