Question
span >Find the cost of manufacturing each article if a manufacturer estimates that on inspection 13% of the articles he produces will be rejected. He accepts an order to supply 25,000 articles at Rs. 6 each. He estimates the profit on his outlay including the manufacturing of rejected articles, to be 20%.
Solution
If 100 articles are manufactured then 13 will be rejected
Total selling price of 87 articles = 87 × 6 = 522
Total cost price = (522 x 100)/120 = 435
cost of manufacturing per article = 435/100 = Rs 4.35
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