Question

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

Answer 1

Step 1: Calculating the cost of one article
The shopkeeper buys 80 articles for ₹2,400.
Now, cost of one article $=\left(\frac{2,400}{80}\right)=₹30$

Step 2: Calculating the profit of one article

Profit percent = 16%
and profit percent $=\left(\frac{\text{profit}}{\text{C.P}}\right)\times 100$
$16\text{\%}=\left(\frac{\text{Profit}}{30}\right)\times 100$
$\text{Profit}=\frac{16\times 30}{100}=4.8$

Step 3: Calculating the selling price of one article.

Selling price of one article = C.P. + Profit
= ₹(30 + 4.80) = ₹34.80
Thus, selling price of one article is ₹34.80.