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A man bought a second-hand photocopying machine for \(\# 34,000\). He serviced it at a ...
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A man bought a second-hand photocopying machine for \(\# 34,000\).
He serviced it at a cost of \(\# 2,000\) and then sold it at a profit of \(15 \%\). What was the selling price?
A.
\(\# 37,550 \)
B.
\(\# 40,400\)
C.
\(\# 41,400\)
D.
\(\# 42,400\)
Show Answer
Show Explanation
Correct Answer: C
Explanation
Total cost price
\(\sum \mathrm{C} . \mathrm{P}\) & \(=34600+2000\) \\
& \(=\# 36000\) \\
\(\sum S . P\) & \(=\sum \mathrm{C} . \mathrm{P}(1+\mathrm{P} \%)\) \\
\(\sum \mathrm{SS.P}\) & \(=36000(1+0.15)\) \\
\(\sum \mathrm{SS.P}=\) & \(=\$ 41,400\)
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