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A factory outlet has decided to dispose of its old stock by selling each set of cups for ₹ 287 and recovering only the variable cost. If the fixed cost is 18% of the total cost, what was the cost price of each set of cups?1. ₹ 3202. ₹ 3503. ₹ 3254. ₹ 340 |
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Answer» Correct Answer - Option 2 : ₹ 350 Given: SP of each set = Rs. 287 Fixed cost = 18% of total cost Explanation: There is a loss of 18 % ∴ SP is 82% of CP 82% of CP = Rs. 287 CP = Rs. (287/82) × 100 ⇒ Rs. 350 ∴ The cost price of each set of cup is Rs. 350 |
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