Raghu bought an article for Rs.14,360 and spent Rs.240 on its transportation. At what amount (in Rs.) must he sell it to get a profit of 15%?
- AOption (a)
Rs. 16,000
- BOption (b)
Rs. 16,790
- COption (c)
Rs. 16,150
- DOption (d)
Rs. 16,800
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Correct answer
Rs. 16,790
Why this answer is correct
Shortcut Trick
Effective Cost Price (CP) = 14360 + 240 = 14600.
To get a Profit of 15%, multiplier = (100 + 15) ÷ 100 = 1.15.
Selling Price (SP) = 14600 × 1.15.
Calculation: 14600 × (1 + 0.15) = 14600 + 2190 = 16790.
∴ The correct answer is Rs. 16,790.
Alternate Method
Given: Purchase Price = Rs. 14,360, Overhead Expenses = Rs. 240, Profit Percentage = 15%. Formulas: Total CP = Purchase Price + Overhead Expenses | SP = CP × (100 + Profit%) ÷ 100
Steps: ⇒ Total Cost Price (CP) = 14360 + 240 = 14,600 ⇒ Profit Amount = 15% of 14,600 = (15 ÷ 100) × 14600 ⇒ Profit Amount = 15 × 146 = 2,190 ⇒ Selling Price (SP) = Total CP + Profit = 14600 + 2190 ⇒ Selling Price (SP) = 16,790
∴ The correct answer is Rs. 16,790.
Additional Information
Effective Cost Price
Any additional expenditure incurred on an article like transportation, repairs, or labor after buying is added to the Cost Price to find the effective CP.
Profit and Loss Basic
Profit is always calculated on the Cost Price (CP) unless stated otherwise. If SP > CP, it is Profit. If CP > SP, it is Loss.
