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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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09/08/2021 11:22 am
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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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09/08/2021 11:23 am
Total cost of an article = Cost + Overhead expenses
= ₹15500 + ₹450
= ₹15950
Profit percentage = 15%
Profit percentage = Profit/C.P x 100
15 = Profit/15950 x 100
Profit = (15 x 15950)/100
= 2392.50
Therefore, Selling price of the article = C.P + Profit
= ₹(15950 + 2392.50)
= ₹18342.50
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