Question
Download Solution PDFAn almirah was bought for ₹15,500 and ₹260 was spent on its transportation. At what price should it be sold to gain 20%?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven
Cost price of almirah = ₹15,500
Transportation cost = ₹260
Profit percent = 20%
Concept:
Selling Price = Cost Price + Profit
Solution:
⇒ Total cost price = ₹15,500 + ₹260 = ₹15,760
⇒ Profit = 20% of ₹15,760 = ₹3,152
⇒ Selling price = ₹15,760 + ₹3,152 = ₹18,912
Therefore, the almirah should be sold for ₹18,912 to gain 20% profit.
Last updated on Jul 8, 2025
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