Akriti buys a smartphone for ₹12,500. If she wants a profit of 30%, how much should she charge for the smartphone?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 16250
Profit per cent is always reckoned on the cost price. Akriti paid ₹12,500, so a 30% profit means adding 30% of ₹12,500 to it; in other words, the selling price is 130% of the cost price.
The profit she wants: 30% of 12,500 \(=3,750\)
The price she should charge: \(12,500+3,750=\) ₹16,250