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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.
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Solution
It is given that the shopkeeper buys 80 articles for Rs 2,400
Cost of one article = Rs `2400/80` = Rs 30
Profit percent = 16
Profit percent = `"Profit"/"C.P" xx 100`
16 = `"Profit"/"Rs 30" xx 100`
Profit = Rs `(16 xx 30)/10` = Rs . 4.80
Selling price of one article = C.P. + Profit = Rs (30 + 4.80) = Rs 34.80
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