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.
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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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