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Question

A shopkeeper buys 80 similar articles for 2400 and sells them at a profit of 16%. Find the selling price of each article.
[2 Marks]

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Solution

Since there is a profit, hence selling price > cost price

Profit% =16%
∴ Profit =16100×2400=384

So, Selling price = Cost price + Profit =(384+2400)=2784
(1 Mark)

Total number of articles bought =80
So, the S.P. of each article =278480
=34.8
(1 Mark)


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