Question

The cost of an article is ₹ 15500 and ₹ 450 is spent for its repair. If the article is sold at a profit of 15% , then what is the selling price? (2 Marks)

Answer 1

Effective Cost Price of an article = Actual cost price of an article + Amount spent on repairs

Effective Cost Price of an article = ₹ (15500 + 450) = ₹ 15950 (0.5 Mark)

$\therefore$ Profit % = 15 %

⇒ $\frac{Profit}{CostPrice}$ = $\frac{P}{100}$ (0.5 Mark)

⇒ $\frac{Profit}{15950}$ = $\frac{15}{100}$

⇒ Profit = ₹ 2392.5 (0.5 Mark)

S.P = Profit + C.P

∴ S.P = ₹ 18342.5 (0.5 Mark)