Question

A businessman purchased goods for Rs 14,000. He paid Rs 50 for freight and Rs 150 for wages. To earn 5% profit, at what price he should sell goods?

Answer 1

Cost price of goods = Rs 14,000

Auto rent = Rs 50

Wages = Rs 150

Total cost price of goods

= Rs (14,000 + 50 + 150)

= Rs 14,200

Wants to earn profit = 5%

∴Profit = 5% of 14,200

= (14,200 x 5)/100

= Rs 710

∴ Selling price of goods = Rs(14,200 + 710)

= Rs 14,910.