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.

Answers (1)

Given,

Cost price (CP) of the 80 articles = Rs. 2,400

Profit percentage = 16%

\therefore Profit amount on all 80 articles = 16% of 2400 = 16/100 x 2400 = Rs. 384

\therefore Selling price of the 80 articles = Rs. (2400 + 384) = Rs. 2784

\therefore Selling price (SP) of each item = Rs. 2784/80 = Rs. 34.8

Therefore, Selling price of one article is Rs.34.8

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