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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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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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Given that the shopkeeper buys 80 articles for ₹ 2,400

Cost of one article = 2400/80 = ₹ 30

Profit percentage = 16%

Profit percentage = Profit/C.P x 100

16 = Profit/30 x 100

Profit = (16 x 30)/100

= Rs 4.8

Therefore, selling price of one article = C.P + Profit

= Rs (30 + 4.80)

= Rs 34.80

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