A person purchases 100 pens at a discount of 10% . The net amount of money spent by the person to purchase the pens is ₹ 600. The selling expenses incurred by the person are 15% on the net cost price. What should be the selling price for 100 pens in order to earn a profit of 25%?
Correct Answer: ₹ 862.50
Explanation:
Total cost price = 600 + 15% of 600
= 600 + (600 x 15)/100 = ₹690 Profit = 25%
SP = CP(100 + Profit/100)
= 690{(100 + 25)/100} = (690 x 125) / 100
= ₹ 862.50
