Question

Indrajit bought 10 refrigerators at Rs. 12000 each and spent Rs. 5000 on transport. For how should he sell each refrigerator in order to make a profit of Rs. 20000.

Answer 1

Hint:Find out the price of 10 refrigerators. Then add the transportation cost. Add the amount of profit with the total cost that will be the selling price of 10 refrigerators. From there, find out the selling price of one refrigerator.

Complete step-by-step answer:
According to the question, Indrajit bought 10 refrigerators at Rs. 12000 each.
That means he bought one refrigerator at Rs. 12000.
Therefore, he bought 10 refrigerators at Rs. $\left( 12000\times 10 \right)=Rs.\text{ 120000}$
He spent Rs. 5000 on transport.
Therefore, his total investment was Rs. (120000+5000) = Rs. 125000. This is the total cost price of the 10 refrigerators, which include the transportations charges too.
As he wants to make a profit of Rs. 20000, he should sell 10 refrigerators at:
SP = CP + Profit
Here SP is the selling price of the 10 refrigerators. Substituting the corresponding values, we get
SP = Rs. (125000+20000) = Rs. 145000.
Therefore, the selling price of 10 refrigerators is Rs. 145000.
Selling price of one refrigerator will be:
$Rs.\text{ }\dfrac{145000}{10}=Rs.\text{ }14500$
Hence, he should sell each refrigerator at Rs. 14500 in order to make a profit of Rs. 20000.

Note: Alternatively, we can solve this problem by forming an equation. If we assume that the selling price of one refrigerator is Rs. x, then:
Profit = SP of 10 refrigerators – CP of 10 refrigerators
Substituting the values, we get
$10x-\left( \left( 12000\times 10 \right)+5000 \right)=20000$
By solving this above equation, we will get $x =14500$ i.e the selling price of one refrigerator.