Question

The cost of an article is ₹ 15000 and ₹ 500 is spent on its repair. If the article is sold at a profit of 20% , then what is the selling price of the article?

• A. ₹ 18600
• B. ₹ 15000
• C. ₹ 15500
• D. ₹ 3100

Answer 1

The correct option is A ₹ 18600

Cost of the article = ₹ 15000

Amount spent on its repair = ₹ 500

Total cost price (C.P) = ₹ 15000 + ₹ 500 = ₹ 15500

Profit % = 20 %

⇒ $\frac{Profit}{CostPrice}\times 100$ = $Profit\%$

⇒ $\frac{Profit}{15500}\times 100$ = $20$

⇒ Profit = ₹ 3100

Profit = Selling price (S.P) - Cost price (C.P)

∴ S.P = Profit + C.P

= ₹ 3100 + ₹ 15500

∴ S.P = ₹ 18600