A dealer sold 6 sewing machines for Rs.63,000 with a profit of 5%. For how much should he sell 8 machines if he intends to earn 15% profit?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e Rs.92,000.
| Understanding/Application |
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The selling price of 6 sewing machine = Rs. 63,000 Profit = 5% The cost price of 6 sewing machine = (63000 × 100)/105 = Rs. 60,000 |
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Cost price of 1 sewing machine = 60000/6 = Rs. 10,000 After a profit of 15% the selling price of 1 sewing machine = (10000 × 115)/100 = Rs. 11,500 The selling price of 8 sewing machine = Rs. 11500 × 8 = Rs. 92,000 |