Question

A shopkeeper sells 80 articles at rupees 2400 as a profit of 16% find the cost 1 article

Answer 1

Cost on 1 article = 746/25 = ₹29.84
Formula for Profit percentage: ((SP-CP)*100)/CP

Answer 2

SP of 80 articles=Rs.2400
Let CP of 80 articles be x.
Profit%=16%
Profit=Profit%/100×CP
=16/100×x
=16x/100
SP of 80 articles=P+CP
2400=16x/100+x
2400=116x/100
2400×100=116x
116x=240000
x=240000/116
x=Rs.2068.96
CP of 80 articles=Rs.2068.96
CP of 1 article=2068.96/80
=Rs.25.862