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Find selling price (SP) if a profit of 5% is made on a cycle of Rs 700 with Rs 50 as overhead charges.
- a)Rs 600
- b)Rs 787.50
- c)Rs 780
- d)None of these
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Find selling price (SP) if a profit of 5% is made on a cycle of Rs 700...
Understanding the Problem
To find the selling price (SP) of a cycle with a profit of 5%, we need to consider the cost price (CP) and the overhead charges.
Step 1: Calculate Total Cost Price (CP)
- The cost price of the cycle = Rs 700
- Overhead charges = Rs 50
Total CP = Cost Price + Overhead Charges
Total CP = 700 + 50 = Rs 750
Step 2: Calculate Profit
- Profit Percentage = 5%
To find the profit amount:
Profit = (Profit Percentage / 100) * Total CP
Profit = (5 / 100) * 750 = Rs 37.50
Step 3: Calculate Selling Price (SP)
Now, we can calculate the selling price:
Selling Price (SP) = Total CP + Profit
SP = 750 + 37.50 = Rs 787.50
Conclusion
Thus, the selling price of the cycle, when a profit of 5% is made, is Rs 787.50.
Therefore, the correct answer is option 'B': Rs 787.50.
To find the selling price (SP) of a cycle with a profit of 5%, we need to consider the cost price (CP) and the overhead charges.
Step 1: Calculate Total Cost Price (CP)
- The cost price of the cycle = Rs 700
- Overhead charges = Rs 50
Total CP = Cost Price + Overhead Charges
Total CP = 700 + 50 = Rs 750
Step 2: Calculate Profit
- Profit Percentage = 5%
To find the profit amount:
Profit = (Profit Percentage / 100) * Total CP
Profit = (5 / 100) * 750 = Rs 37.50
Step 3: Calculate Selling Price (SP)
Now, we can calculate the selling price:
Selling Price (SP) = Total CP + Profit
SP = 750 + 37.50 = Rs 787.50
Conclusion
Thus, the selling price of the cycle, when a profit of 5% is made, is Rs 787.50.
Therefore, the correct answer is option 'B': Rs 787.50.
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