500 showpieces were bought by a person for ₹25,000. He spent ₹5000 on some modification of the items. Thereafter he sold them at an overall profit of 10%. What was the selling price of each showpiece?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. ₹66.
Total CP of 500 items = 25000 + 5000 = 30000
Given, profit = 10%
SP of 500 items = CP × (100 + P)/100
⇒ 30000 × 110/100 = 33000
SP of 1 item = 33000/500 = 66