Question
Download Solution PDFA retailer purchased a batch of goods for ₹5,000. Due to a manufacturing defect, 5% of the goods were damaged. If the retailer wants to make a profit of 20% on the remaining goods, at what price should the undamaged goods be sold?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Cost Price (CP) = ₹5,000
Damaged goods = 5%
Profit = 20%
Formula used:
Selling Price (SP) = Cost Price of undamaged goods + Desired Profit
Calculations:
Damaged goods = 5% of 5000
⇒ Damaged goods = 0.05 × 5000 = ₹250
Undamaged goods cost = 5000 - 250
⇒ Undamaged goods cost = ₹4750
Desired profit = 20% of undamaged goods cost
⇒ Desired profit = 0.20 × 4750 = ₹950
Selling Price (SP) = Cost Price of undamaged goods + Desired Profit
⇒ SP = 4750 + 950 = ₹5700
∴ The correct answer is option (2).
Last updated on May 28, 2025
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