Question

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

Answer 1

Total cost of an article = Cost + Overhead expenses

= Rs 15500 + Rs 450

= Rs 15950

Profit % = Profit / C.P x 100

15 = Profit / Rs15950 x 100

Profit = Rs ( 15950 x 15 / 100 ) = Rs 2392.50

∴Selling price of the article = C.P. + Profit = Rs (15950 + 2392.50) = Rs 18342.50