A bookseller bought 5 exercise books at Rs.55.50 each and sold them at profit of 12% .what is the selling price of each exercise book
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CP of the exercise books = Rs55.50*5= Rs277.5
profit = (12/100)* 277.5=Rs 33.3
SP of the exercise books = profit+CP = Rs33.3+277.5= Rs 310.8
SP of each exercise book = Total SP/ number of exercise books = Rs310.8/5= Rs62.16
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