Question

The cost of an article was $Rs.15,500$. $Rs.450$ were spent on its repairs. If it sold for a profit of $15\%$, find the selling price of the article.

Answer 1

Given:

The cost of an article $=Rs.15,500$

Amount spent for repair $=Rs.450$

$\Rightarrow$ Total Cost Price $=Rs.15,500+Rs.450=Rs.15,950$

$\Rightarrow C.P=Rs.15,950$

Profit $=15\%$ of $C.P$

$\Rightarrow$ Profit $=\frac{15}{100}\times Rs.15,950$

$\Rightarrow$ Profit $=Rs.2392.50$

Now,

$S.P=$ Profit $+C.P$

$\Rightarrow S.P=Rs.2392.50+Rs.15,950=Rs.18342.50$

Therefore, Selling price of article is $Rs.18342.50$.