Question

A shopkeeper buys 80 articles for rupees 2400 and sells them for a profit of 16%. find selling price .​

Answer 1

Answer:

Selling price is Rs.34.80 per article

Step-by-step explanation:

Cost Price (CP) = Rs.2400 for 80 articles

CP per article = 2400/80 = 30

Profit = 16%

If the man has earned a profit of 16%, it only means that he has sold the article for 16% more than the cost price.

Hence, Selling Price = CP + 16% of CP = 30 + (16/100)*30 = 30 + 4.8 = 34.80

The selling price is Rs.34.80 per article.

You can also remember this formula:

Profit% = 100*(Profit/CP)

            = 100*[(SP - CP)/CP]

Profit% = 100(SP/CP - 1)

SP/CP = (1+Profit%/100)

SP = CP*(1+Profit%/100)

Using this

SP = 30*(1+16/100)

     = 30*(1 + 0.16)

     = 30*(1.16)

     = 34.80