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

Answer:

Cost price of article = Rs. 15,500

Cost of repair = Rs. 450

∴ Total cost of article = Rs. (15500+450) = Rs. 15,950

Profit on selling article =15%

∴ Profit (Rs.) = 15/100×15,950=2392.5

Selling Price = Cost Price + Profit

∴ Selling Price = 15950+2392.5=Rs.18342.5