Mr. Manju sold a bus for Rs. 17,000 at a loss of 15% At what price should the bus be sold to get a profit of 15%

Options

A. Rs. 23,000
B. Rs. 23,500
C. Rs. 24,000
D. Rs. 24,500

Answer

To solve the problem step by step, we will first determine the cost price (CP) of the bus based on the selling price (SP) and the loss percentage. Then, we will calculate the selling price needed to achieve a profit of 15%.

### Step 1: Calculate the Cost Price (CP)

Given:
- Selling Price (SP) = Rs. 17,000
- Loss Percentage = 15%

The formula for Selling Price when there is a loss is:
\[ SP = CP \times \left(1 - \frac{\text{Loss Percentage}}{100}\right) \]

Substituting the values:
\[ 17,000 = CP \times \left(1 - \frac{15}{100}\right) \]
\[ 17,000 = CP \times 0.85 \]

Now, we can solve for CP:
\[ CP = \frac{17,000}{0.85} \]
\[ CP = 20,000 \]

### Step 2: Calculate the Selling Price for a Profit of 15%

Now that we have the cost price, we can calculate the selling price needed to achieve a profit of 15%.

The formula for Selling Price when there is a profit is:
\[ SP = CP \times \left(1 + \frac{\text{Profit Percentage}}{100}\right) \]

Substituting the values:
\[ SP = 20,000 \times \left(1 + \frac{15}{100}\right) \]
\[ SP = 20,000 \times 1.15 \]
\[ SP = 23,000 \]

### Conclusion

To achieve a profit of 15%, Mr. Manju should sell the bus for Rs. 23,000.

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