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

Solution:

Cost Price of the article = ₹ 15,500

Overhead charges = ₹ 450

Profit percentage = 15%

New Cost Price = Cost Price + Overhead charges

New C.P. = 15500 + 450

= 15950

Selling Price = Cost Price + Profit

where, Profit = 15% of C.P.

S.P. = C.P. + Profit

= C.P. + 15% of C.P.

= C.P. + (15/100) × C.P.

= 115% C.P.

S.P. = (115/100) × 15950

= 18342.50

Thus, the selling price is ₹ 18342.50

☛ Check: NCERT Solutions for Class 8 Maths Chapter 8

Video Solution:

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

NCERT Solutions Class 8 Maths Chapter 8 Exercise 8.2 Question 4

Summary:

The cost of an article was ₹ 15,500. ₹ 450 was spent on its repairs. If it is sold for a profit of 15%, the selling price of the article is ₹ 18342.50.

☛ Related Questions:

• A milkman sold two of his buffaloes for ₹ 20,000 each. On one he made a gain of 5% and on the other a loss of 10%. Find his overall gain or loss. (Hint: Find CP of each).
• The price of a TV is ₹ 13,000. The sales tax charged on it is at the rate of 12%. Find the amount that Vinod will have to pay if he buys it.
• Arun bought a pair of skates at a sale where the discount given was 20%. If the amount he pays is ₹ 1,600 find the marked price. 
• I purchased a hairdryer for ₹ 5,400 including 8% VAT. Find the price before VAT was added.