The cost price of an article is Rs 7840. What should be the selling price of the article so that there is a profit of 7 % ?

Options

A. a. 8000
B. b. 8300
C. c. 8388.8
D. d. 8500.5

Answer

To find the selling price (SP) of an article that costs Rs 7840 and yields a profit of 7%, we can follow these steps:

### Step 1: Understand the formula for Selling Price
The formula to calculate the Selling Price when a profit percentage is given is:
\[ SP = CP \times \left(1 + \frac{Profit\%}{100}\right) \]
where:
- \( SP \) = Selling Price
- \( CP \) = Cost Price
- \( Profit\% \) = Profit Percentage

### Step 2: Substitute the values into the formula
Given:
- Cost Price (CP) = Rs 7840
- Profit Percentage = 7%

Substituting these values into the formula:
\[ SP = 7840 \times \left(1 + \frac{7}{100}\right) \]

### Step 3: Calculate the profit factor
Calculate \( 1 + \frac{7}{100} \):
\[ 1 + \frac{7}{100} = 1 + 0.07 = 1.07 \]

### Step 4: Calculate the Selling Price
Now substitute back into the equation:
\[ SP = 7840 \times 1.07 \]
Calculating this gives:
\[ SP = 7840 \times 1.07 = 8388.8 \]

### Step 5: Conclusion
Thus, the Selling Price of the article should be Rs 8388.8 to achieve a profit of 7%.

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