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

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

Grade:12

1 Answers

Harshit Singh
askIITians Faculty 5964 Points
8 months ago
Dear Student

Total cost of an article = Cost + Overhead expenses
=₹15500+₹450
=₹15950
Profit percent = 15
Profit percent =Profit× 100
​ C.P.
15 = Profit/15950 x 100
Profit =15 ×₹ 15950
100
= 2392.50
∴ Selling price of the article = C.P. + Profit
=₹(15950 + 2392.50)
=₹18342.50

Thanks

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