Question

A shopkeeper buys 80 articles for ₹ 2,400 and sells them for a profit of 16%. What is the selling price of one article?

• A. ₹ 30
• B. ₹ 34.80
• C. ₹ 35.80
• D. ₹ 34

Answer 1

The correct option is B ₹ 34.80

Total number of articles = 80
Cost price of 80 articles = ₹ 2400

$\Rightarrow$ Cost price of each article = $\frac{2400}{80}$= ₹ 30

Profit % = 16 %

Profit = 16 % of cost price
= $\frac{16}{100}\times 30$ = ₹ 4.8

Selling price of each article = cost price + profit
= ₹ 30 + ₹ 4.8 = ₹ 34.8