The cost of an article was rupee 15500.rupee 451 spend on its repairs. if it is sold for a profit of 15%, find the selling price of the article.

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Solution

Total CP = Cost price+ Overhead expenses(repairs)

Total CP = 15500 + 450 = ₹15950

Total CP=₹15950

Profit = CP x % profit

Profit = 15% of CP

Profit= (15/100) ×15950

= 15 ×159.5

Profit = ₹2392.50

Selling price = Cost Price + Profit

SP= 15950 + 2392.50

SP= ₹18342.50

Hence,the selling price of the article=₹18342.50

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