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

Cost price of $80$ articles $=$ Rs. $2400$

Profit on $80$ articles $=16\%$

$\therefore$ Profit earned in Rs. $=\frac{16}{100}\times 2400=$ Rs.$384$

Selling Price of $80$ articles $=$ Cost Price $+$ Profit

$=2400+384$

$=$ Rs.$2784$

$\therefore$ Selling price of 1 article $=\frac{2784}{80}=$ Rs.$34.8$

So, the selling price of $1$ article should be Rs. $34.8$ as to gain $16\%$.