The cost of an article was Rs 15,500. Rs 450 were spent on its repairs. If it is sold for a profit of 15%, find the selling price of the article.
Given: The cost of an article was Rs 15,500. Rs 450 were spent on its repairs
∴ Total expense on the article = 15500 + 450 = Rs15950
To get a profit of 15%, selling price should be (100 + 15 =) 115% of Total expense
∴ SP = (115/100) × 15950
= Rs18342.50