Ex.8.2 Q4 Comparing Quantities Solution - NCERT Maths Class 8

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

Text Solution

What is known?

Cost Price of the article \(= \rm{Rs}\, 15,500\)

Overhead charges \(= \rm{Rs}\, 450\)

Profit (in\( \%\)) \(= 15\%\)

What is unknown?

Selling Price of the article

Reasoning:

New Cost Price \(=\) Cost Price \(+\) Overhead charges

Selling Price \(=\) Cost Price \(+\) Profit (Profit  \(= 15\%\) of C.P.)

Steps:

\[\begin{align}{\text{New}} \,C.P. &= 15500 + 450\\ &= 15950\\S.P. &= C.P. + \text{Profit}\\&= C.P. + 15\% \times C.P.\\& = C.P. + \frac{{15}}{{100}} \times C.P.\\& = 115\% C.P.\\S.P.&=\frac{{115}}{{100}}\times{ 15950} \\ &=18342.50\end{align}\]

Selling Price of the article \(= \rm{Rs}\, 18,342\)