A shopkeeper buys 80 similar articles for ₹2400 and sells them at a profit of 16%. Find the selling price of each article.
₹34.8
Since there is a profit, hence selling price (S.P) > cost price (C.P)
Profit % = 16 %
∴ Profit =16100×2400=384
So, S.P = C.P + Profit =₹(384+2400)=₹2784
Total number of articles bought = 80
So, the S.P. of each article =278480
=₹34.8