a shopkeeper bought 16 shirt the cost of each being $175 he sold five of them at the rate of $160 per shirt at what price shirt should he sell the remaining shirts to make a profit of $90
Answers
Answer:
The remaining shirts have to be sold at $190 each.
Step-by-step explanation:
Each shirt costs $175, and the shopkeeper bought 16 shirts.
This means that he spent $2800 to buy 16 shirts. This was done by multiplying the number of shirts by the cost of each shirt.
A net profit can only be made when the total selling price of all the shirts is higher than the total cost price of all the shirts.
He needs to make a profit of $90. This means that the selling price of all the shirts combined should be $2800 + $90 = $2890.
Profit = Selling Price - Cost Price.
Profit = 2890 - 2800 = $90.
Our profit has been verified.
He has already sold 5 shirts at $160 per shirt, which means he has sold those shirts for 160 x 5 = $800.
Now, he still has to earn $2890 - 800 = $2090.
He has 16 - 5 = 11 shirts remaining.
Now, if we divide the money he has to make by the number of shirts he has to sell, we can find the selling price per shirt.
S. P = 2090/11
S. P = $190.
The remaining shirts have to be sold at $190 each.