A dealer sold 6 sewing machines for ₹63,000 with a profit of 5%. For how much should he sells 8 machines if he intends to earn 15% profit?
Answer & explanation
Correct answer: option 3
We know that,
SP = [(100 + P%)\(\frac{1}{100}\) ] × CP
We have,
SP of 6 sewing machines = 63000
Profit = 5%
SP of 1 sewing machines = \(\frac{63000}{6}\) = Rs. 10,500
CP of 1 sewing machine = 10,500 × (\(\frac{100}{105}\)) = 10,000
New SP of 1 sewing machine = 10000 × (\(\frac{115}{100}\)) = 11,500
New SP of 8 sewing machines = 11500 × 8 = 92000