Question

A shopkeeper buys 1 article for Rs 30 and sells it for a profit of 16%. Find the selling price of the article.​

Answer 1

$\large\underline{\sf{Solution-}}$

Given that, A shopkeeper buys 1 article for Rs 30 and sells it for a profit of 16%.

It means,

Cost Price of an Article = Rs 30

Profit % = 16 %

We know, Selling Price of an Article whose cost price and profit % is known, is evaluated as

$\boxed{ \rm{ \:Selling \: Price = \frac{(100 + Profit\%) \times Cost \: Price}{100} \: }}$

So, on substituting the values, we get

$\rm \: Selling \: Price = \dfrac{(100 + 16) \times 30}{100}$

$\rm \: Selling \: Price = \dfrac{116 \times 3}{10}$

$\rm \: Selling \: Price = \dfrac{348 }{10}$

$\rm\implies \:Selling \: Price \:of \: an \: article = \: Rs \: 34.8$

$\rule{190pt}{2pt}$

Additional Information :-

$\begin{gathered}\: \: \: \: \: \: \begin{gathered}\begin{gathered} \footnotesize{\boxed{ \begin{array}{cc} \small\underline{\frak{\pmb{ \red{More \: Formulae}}}} \\ \\ \bigstar \: \bf{Gain = \sf S.P. \: – \: C.P.} \\ \\ \bigstar \:\bf{Loss = \sf C.P. \: – \: S.P.} \\ \\ \bigstar \: \bf{Gain \: \% = \sf \Bigg( \dfrac{Gain}{C.P.} \times 100 \Bigg)\%} \\ \\ \bigstar \: \bf{Loss \: \% = \sf \Bigg( \dfrac{Loss}{C.P.} \times 100 \Bigg )\%} \\ \\ \\ \bigstar \: \bf{S.P. = \sf\dfrac{(100+Gain\%) or(100-Loss\%)}{100} \times C.P.} \\ \: \end{array} }}\end{gathered}\end{gathered}\end{gathered}$