find selling price ,if a profit of 5% is made on a cycle of 700with 50 as overhead
charges
To find the selling price with a profit of 5%, you would need to calculate the total cost first.
1. Start with the given cost of the cycle: $700
2. Add the overhead charges: $50
Total cost = $700 + $50 = $750
Next, calculate the profit amount by applying the profit percentage:
3. Calculate the profit amount = 5% of the total cost
Profit = 5% * $750 = $37.50
Finally, calculate the selling price by adding the profit to the total cost:
4. Selling price = Total cost + Profit
Selling price = $750 + $37.50 = $787.50
Therefore, the selling price, if a profit of 5% is made on a cycle of $700 with $50 as overhead charges, would be $787.50.