A trader buys 3,750 articles at a cost of GH¢6.00 per article. He fixed the selling price so that if only 3,000 articles are sold, he will make a profit of 40% on his total cost. Explain how he will sell one article in other to achieve his aim
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No of articles =3750
Cost of 1 article = 6
Money spent by trader to buy 3750 articles =6*3750=22500
If he is making a profit of 40%,the amount he sells is 22500+[40% of 22500
22500 +9000=31500
Articles sold by trader =3000
Selling price of one article =31500/3000
=10.50
Answer is 10.5
Cost of 1 article = 6
Money spent by trader to buy 3750 articles =6*3750=22500
If he is making a profit of 40%,the amount he sells is 22500+[40% of 22500
22500 +9000=31500
Articles sold by trader =3000
Selling price of one article =31500/3000
=10.50
Answer is 10.5
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