Question

The owner of Vishal Furnitures bought a cupbord for Rs 6500. For how much should he sell it to make 15% profit?

Answer 1

Cost price of cupboard = C.P = Rs 6500
Profit % = 15%
We know that
$$\begin{gathered} \mathrm{Profit}\%=\frac{\mathrm{Profit}}{\mathrm{C}.\mathrm{P}}\times 100 \\ \Rightarrow 15=\frac{\mathrm{Profit}}{6500}\times 100 \\ \Rightarrow 15=\frac{\mathrm{Profit}}{65} \\ \Rightarrow 15\times 65=\mathrm{Profit} \end{gathered}$$
Profit = Rs 975
Now, S.P = C.P + Profit
= Rs 6500 + Rs 975
= Rs 7475
∴ Selling price of the cupboard is Rs 7475.