Question

A man buys an article for Rs.150 and makes overhead expenses which are 10% of the cost price. At what price must he sell it to gain 20%? 

A. Rs. 182 

B. Rs. 192 

C. Rs. 198 

D. Rs.208

Answer 1

CP = Rs.150 

Overhead Expense = 10% of Rs.150 

= Rs.15 

So, total cost of an article = 150 + 15 

= Rs.165

SP = \(\frac{100\,+\,Gain\%}{100}\times CP\)

\(=\frac{100\,+\,20}{100}\times165\)

= Rs.198