Question

The cost of an article was 15,500. 450 was spent on its repairs. If it is sold for a profit of 15%, find the selling price of the article.​

Answer 1

$\mathfrak \purple{answr}$

The price at which a buyer purchases an article is called the cost price (CP)

of the article for the buyer.

The price at which a seller sells an article is called the selling price (SP) of the article for the seller

When the selling price is more than the cost price of an article then there is a profit or gain.

S.P>C.P

Profit= S.P - C.P

Profit%= (profit/C.P)x100

Overhead charges are included in the cost price.

Profit

and loss are calculated on a certain percent of the C.P

Solution:

Total CP = Cost price+ Overhead expenses(repairs)

Total CP = 15500 + 450 = 15950

Total CP=15950

Profit = CP x % profit

Profit = 15% of CP

Profit= (15/100) *15950

= 15 x159.5

Profit=2392.50

Selling price = Cost Price + Profit

SP = 15950 + 2392.50

SP = 18342.50

Hence, the selling price of the article=18342.50

Answer 2

Total cost of an article = Cost + Overhead expenses

= rupees 15500 + rupees 450

= rupees 15500 + rupees 450= rupees 15950

$\bold \red{profit\% = \frac{profit}{cp} \times 100}$

$\bold{15 = \frac{profit}{rupees \: 15950} \times 100}$

$\bold{profit \: = rupees( \frac{15950 \times 15}{100}})$

$\bold \blue{ = \: rupees \: 2392.50}$

Selling price of the article = CP + Profit

= (15950 + 2392.50)

$\bold \blue{ = rupees \: 18342.50}$