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

₹ 29.8

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₹16.6

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₹ 34.8

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₹ 26.6

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Solution

The correct option is C
₹ 34.8

Profit = C.P - S.P

Given, Profit % = 16%

$P r o f i t = \frac{P r o f i t p e r c e n t a g e}{100} \times C o s t P r i c e$

$\Rightarrow$ Profit = 16% of 2400

∴ Profit $= \frac{16}{100} \times 2400 = 384$

S.P = C.P + Profit
Hence Total S.P = ₹ ( 2400 + 384) = ₹ 2784

Total Number of articles bought = 80

So, the SP of each article= $\frac{2784}{80}$ = ₹ 34.8

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