Question

Question 3
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

No. of articles = 80
Cost Price of articles = Rs 2,400 and Profit = 16%
$\because$ Cost price of articles is Rs 100, then selling price = 100 + 16 = Rs.116
$\therefore$ Cost price of articles is Rs 1, then selling price = $\frac{116}{100}$
$\therefore$ Cost price of articles is Rs 2400, then selling Price = $\frac{116}{100}\times 2400=Rs.2784$
Hence, Selling Price of 80 articles = Rs. 2784
Therefore selling price of 1 article =$\frac{2784}{80}=Rs.34.80$