Question

An article is bought for Rs.2500 and Rs.175 is spent on its transportation. At what price must it be sold in order to gain Rs.350?
a) 1025
b) 2025
c) 3025
d) 4025

Answer 1

Hint: Find the total cost price of the article, which is the sum of cost of article and transportation charges. We know gain and CP, then find SP by directly substituting the value in the equation for gain.

Complete step-by-step answer:
It is said that an article is bought for Rs.2500. Now, for the transportation of this particular artefact Rs.175 is spent. Thus, the total cost price of the article will be the sum of the transportation and the cost for which the article bought.
Therefore, Total cost price (cp) of the article = Cost of article + transportation cost.
Thus, the cost price of the article = Rs. $\left( 2500+175 \right)=2675$.
Now this article has to be sold in such a way that the person gains Rs.350. Hence, we need to find the selling price of the article. We know that,
Gain = selling price – cost price
So, selling price = cost price + Gain
We know gain = Rs.350 and CP = Rs.2675.
Thus, substitute these values in the above equation.
Gain $=\left( 2675+350 \right)=3025$ Rs.
Hence the selling price of the article is Rs.3025.

So, the correct answer is “Option C”.

Note: We can find the profit he got by
$\begin{align}
  & \left( \dfrac{Profit}{CP} \right)\times 100 \\
 & \dfrac{350}{2675}\times 100=13.08\% \\
\end{align}$
Hence, he made a profit of 13.08% from selling the article.