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Question
A man buys an article for ₹ 150 and makes overhead expenses which are 12% of the cost price. At what price must he sell it to gain 5%?
Options
₹ 180
₹ 168
₹ 176.40
₹ 88.20
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Solution
₹ 176.40
Explanation;
Hint:
Cost price of article = ₹ 150
Overhead expenses = 12% of cost price
= `12/100 xx 150`
= ₹ 18
∴ Effective cost of article = 150 + 18 = ₹ 168
Now, to gain 5%, he has to sell at
S.P = `"C.P" xx ((100 + "gain"%)/100)`
= `168 xx (((100 + 5))/100)`
= 168 × 1.05
= 176.40
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