4 The cost of an article was Rs 15,500. Rs 450 was spent on its repairs. If it is sold on a profit of 15%, find the selling price of one article.
Given,
Cost of the article = Rs. 15500
Cost of repair = Rs. 450
Cost price(CP) of the article = Rs. (15500 + 450) = Rs. 15950
Profit percentage = 15%
Profit amount = 15% of Rs.15950 = Rs. 2392.50
Selling Price = Rs.(15950 + 2392.50) = Rs. 18342.50
OR
Selling price (SP) of the article = CP + Profit = CP + (15% of CP)
= 115% of CP