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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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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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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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