Question

46. A trader buys 3.750 articles at a cost of GHc6.00 per article. He fixes the selling price so that, if only 2000 articles are sold, he will make a profit of 40% on his total cost. Calculate the selling price of one article i) If, in fact, he sells 3.150 articles at this price, find the actual profit as a percentage of the total cost price. (Assume that unsold articles are valueless) ii) If he wanted 100% profit, for how much should he have sold each of the 3.150 articles?​

Answer 1

Answer

We have,

Number of articles = x

And, the total cost of articles = Rs 600  

(i) The cost of one article = Rs 600/x

(ii) From the question we have,  

x−4

600

​

=  

x

600

​

=5

x(x−4)

600x−600x+2400

​

=5

x(x−4)

480

​

=1

x  

2

−4x−480=0

x  

2

−24x−20x−480=0

x(x−24)+20(x−24)=0

(x−24)(x+20)=0

x=24 or −20

As the number of articles cannot be negative, x = 24