Question

A shopkeeper buys 80 articles for ₹ 2400 and sells them at a profit of 16%. Find the selling price of one article.

• A. ₹ 29.8
• B. ₹ 16.6
• C. ₹ 34.8
• D. ₹ 26.6

Answer 1

The correct option is C

₹ 34.8

Cost Price (CP)= ₹ 2400

Profit made = 16% of CP
$\therefore$Profit made = 16% of ₹ 2400

$\Rightarrow$ Profit made = $\frac{16}{100}\times ₹2400$ $=₹384$

Selling price (S.P) = Cost price + Profit
$\therefore$ S.P = ₹ (2400+384)
$\Rightarrow$ S.P = ₹ 2784

So, the selling price of 80 articles is ₹ 2784.

SP of each article is given by $\frac{₹2784}{80}=₹34.8$