Question

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

Answer 1

Given: Number of articles $=80$

Cost Price of articles $=Rs.2,400$ and Profit $=16\%$

$\because$ Cost price of $1$ articles $=\frac{2400}{80}=Rs.30$

Let the SP of $1$ article be $Rs.x.$

Profit$\%=\frac{\text{Profit}}{\text{CP}}\times 100\%$

$\Rightarrow 16\%=\frac{SP-CP}{CP}\times 100\%$

$\Rightarrow 16=\frac{x-30}{30}\times 100$

$\Rightarrow \frac{16\times 3}{10}+30=x$

$\therefore x=30+4.8=34.8$

Hence, the selling price of one article is $Rs.34.8$