Question

Cost price of an article is Rs. 16500 and Rs. 3500 spent on its refurbishment, and sold at 12% loss then find the selling price.

1. Rs. 17,400
2. Rs. 17,600
3. Rs. 17,500
4. Rs. 17,000

Answer 1

Correct Answer - Option 2 : Rs. 17,600

Given:

C.P. of an article = Rs. 16500

Money spent on refurbishment = Rs. 3500

Loss% = 12%

Concept used:

S.P = C.P × (100 – L%)/100

Where,

S.P → Selling price 

C.P → Cost price 

L% → Loss%

Calculation:

C.P. of an article = Rs. 16500

Money spent on refurbishment = Rs. 3500

Total cost = 16500 + 3500 = 20,000

Loss% = 12%

S.P. = 20,000 × 88/100

⇒ 200 × 88 = Rs. 17600

∴ The selling price of the article is Rs. 17,600.