An almirah was brought for Rs.14,360 and Rs.240 was spent on its transportation. At what price should it be sold, to gain 15%?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. Rs 16,790.
Given that
The cost price of the almirah = 14360 Rs
The Transportation charges = 240 Rs
Net C.P = 14360 + 240 = 14600 Rs
The gain percentage = 15%
We know that,
Profit percentage = (Profit/Cost Price) × 100
Profit = S.P - C.P
Calculation
⇒ 15 = [(S.P - 14600)/14600] × 100
⇒ S.P = 14600 + 2190 = 16790 Rs