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.**