Bashir bought an article for Rs 1215 and spent Rs 35 on its transportation. At what price should he sell the article to have a gain of 16%?
Given :
Bashir bought an article for Rs 1215 and spent Rs 35 on its transportation.
To find :
We have to find the price he should sell the article to have a gain of 16%.
Solution :
Cost price of the article $= Rs. (1215+35) = Rs. 1250$.
Let the selling price be SP.
Therefore,
$SP = CP + Profit$
$SP = 1250+ \frac{16}{100} \times 1250$
$= 1250+16\times12.5$
$= 1250+200$
$= Rs. 1450$.
He should sell the article at Rs. 1450 to have a gain of 16%.
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