The cost price of an article is Rs. 500. If it is sold at successive p

1.	The cost price of an article is Rs. 500. If it is sold at successive profits of 5% and 10%, find the resultant selling price due the successive profits.1. Rs.577.502. Rs.6003. Rs.5904. Rs.585.505. Rs.580.50
Answer» Correct Answer - Option 1 : Rs.577.50 Given: The CP of an article = Rs. 500 First Profit on selling the article = 5% Second Profit on selling the article = 10% Formula Used: When two successive profits of a% and b% are received on selling an article, the overall profit percentage = [a + b + (ab/100)] Selling Price = [(100 + Profit%)/100] × Cost Price Calculation: Two successive profits of 5% and 10% are given, the overall profit in the transaction = [5 + 10 + {(5 × 10)/100}] ⇒ 15.5% Hence the final Selling Price = [(100 + 15.5)/100] × 500 ⇒ Rs. 577.5 ∴ The resultant selling price of the article is Rs. 577.5

The cost price of an article is Rs. 500. If it is sold at successive profits of 5% and 10%, find the resultant selling price due the successive profits.1. Rs.577.502. Rs.6003. Rs.5904. Rs.585.505. Rs.580.50

Answer» Correct Answer - Option 1 : Rs.577.50

Given:

The CP of an article = Rs. 500

First Profit on selling the article = 5%

Second Profit on selling the article = 10%

Formula Used:

When two successive profits of a% and b% are received on selling an article, the overall profit percentage = [a + b + (ab/100)]

Selling Price = [(100 + Profit%)/100] × Cost Price

Calculation:

Two successive profits of 5% and 10% are given, the overall profit in the transaction = [5 + 10 + {(5 × 10)/100}]

⇒ 15.5%

Hence the final Selling Price = [(100 + 15.5)/100] × 500

⇒ Rs. 577.5

∴ The resultant selling price of the article is Rs. 577.5

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