Question : The cost price of a radio is Rs. 600. The 5% of the cost price is charged towards transportation. After adding that, if the net profit to be made is 15%, then the selling price of the radio must be:
Option 1: Rs. 704.50
Option 2: Rs. 724.50
Option 3: Rs. 664.50
Option 4: Rs. 684.50
Correct Answer: Rs. 724.50
Solution :
Given:
The cost price of a radio is Rs. 600.
5% of the cost price is charged for transport.
So, charge on the cost price = $\frac{5}{100}$ × 600 = 30
∴ Total cost price = 600 + 30 = Rs. 630
To gain 15%, the selling price should be:
= 630 + ($\frac{15}{100}$ × 630)
= Rs. 724.50
Hence, the correct answer is Rs. 724.50.
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