Question

A man buys article for rs. 150 and makes overhead experses which are 10 % of the cost price. At what price must he sell it to gain 20 % ?

(a) Rs. 182

(b) Rs. 192

(c) Rs. 198

(d) Rs. 208

Answer 1

Answer : (c)

CP of an article = Rs. 150

Overhead expenses = 10 % of CP

$=Rs.150\times \frac{10}{100}=Rs.15$

Total CP = Rs. 150 + 15 = Rs. 165

Gain = 20 %

$\therefore SP=\frac{CP\times (100+gain\%)}{100}$

$=\frac{165\times (100+20)}{100}=\frac{165\times 120}{100}=Rs.198$