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Peter purchased a machine for Rs. 80000 and spent Rs 5000 on repairs and Rs. 1000 on transport. He sold itat a profit of 25 %. At what price did he sell the machine?(A) Rs. 100000(B) Rs. 107500(C) Rs. 105000(D) Rs. 120000

Question

Peter purchased a machine for Rs. 80000 and spent Rs 5000 on repairs and Rs. 1000 on transport. He sold itat a profit of 25 %. At what price did he sell the machine?(A) Rs. 100000(B) Rs. 107500(C) Rs. 105000(D) Rs. 120000

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Solution

First, let's calculate the total cost of the machine for Peter.

The purchase price of the machine was Rs. 80000. He spent an additional Rs. 5000 on repairs and Rs. 1000 on transport.

So, the total cost of the machine for Peter is Rs. 80000 + Rs. 5000 + Rs. 1000 = Rs. 86000.

Peter sold the machine at a profit of 25%.

To calculate the selling price, we need to add the profit to the cost price.

First, let's calculate the profit.

Profit = 25/100 * Cost price = 25/100 * 86000 = Rs. 21500

Now, let's calculate the selling price.

Selling price = Cost price + Profit = Rs. 86000 + Rs. 21500 = Rs. 107500

So, Peter sold the machine for Rs. 107500.

Therefore, the correct answer is (B) Rs. 107500.

This problem has been solved

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