A shopkeeper buys 80 articles for 2,400 and sells them for a profit of
16%. Find the selling price of one article.
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Answer:
Given,
Cost price (CP) of the 80 articles = Rs. 2,400
Profit percentage = 16%
Profit amount on all 80 articles = 16% of 2400 = 16/100 x 2400 = Rs. 384
Selling price of the 80 articles = Rs. (2400 + 384) = Rs. 2784
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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