The cost of an article is ₹ 15500 and ₹ 500 is spent on its repair. If the article is sold at a profit of 15%, then find its selling price.
₹ 18400
The actual cost price includes the CP of the article and the overhead charges.
C.P = ₹(15500+500)=₹16000
Profit %=15%
∴ SP =100+profit%100 × CP
= 115100 × 16000
= ₹ 18400