Question

Sanjay purchased $125$ stools at the rate of $Rs120$ per stool. The transport expenditures was $Rs250$. He paid octroi at the rate of $Rs2$ per stool and coolie charges were $Rs250$. What should be the selling price of each stool, if he wants a profit of $10\%$.

Answer 1

Let $x$ be the selling price of each stool.

Cost of $1$ stool $=Rs.120$

Transport expenditure for $125$ stools $=Rs.250$

$\Rightarrow$ Transport expenditure for $1$ stool $=\frac{250}{125}=Rs.2$

Amount paid to octroi per stool $=Rs.2$

Coolie charge for $125$ stools $=Rs.250$

$\Rightarrow$ Coolie charges for $1$ stool $=\frac{250}{125}=Rs.2$

Total money spent for $1$ stool $=120+2+2+2=Rs.126$

For $10\%$ profit,

$x=126+\frac{10}{100}\times 126=126+12.6=138.6$

Hence the selling price of each stool should be $Rs.138.6$ to get $10\%$ profit.