Question

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

Answer 1

Cost Price = CP = 15,500 + 450 = ₹15,950

Selling Price = SP = ?

Profit % = 15%

We know that,

Profit % = Profit/CP × 100

15 = Profit / 15,950 × 100

Profit = 15 × 15,950/100

Profit = ₹2,392.5

Profit = SP - CP

2392.5 = SP - 15,500

SP = 15,500 + 2,392.5

SP = ₹17,892.5

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