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Q3) 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:

Solution:

No. of articles = 80

Cost Price of articles = Rs. 2,400And 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}\times2400=Rs.\ 2784

Hence, Selling Price of 80 articles = Rs.2784

Therefore Selling Price of 1 article

= \frac{2784}{80}=Rs.\ 34.80

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