Question

The cost of an article is RS 15500 and RS 450 is spent for it's repair. If the article is sold at a profit of 15 % , then what is the selling price?

Answer 1

COST PRICE OF AN ARTICLE = Rs 15500

OVERHEAD CHARGES= Rs 450

TOTAL COST PRICE = Rs 15500 + 450 = 15950 Rs

LET SELLING PRICE BE a

PROFIT = SP-CP

= a-15950

PROFIT% = P/CP x 100

=15 = a-15950/15950 x 100

=15x15950= (a-15950)100

=239250 = 100a-1595000

=239250+1595000 = 100a

=1834250 = 100a

=1834250/100 = a

= 18342.5 Rs = a

ANS 18342.5 Rs IS THE SELLING PRICE