Question : A person bought 8 articles for Rs. 2. Find at what price should he be able to sell 120 articles to get a profit of 10%.
Option 1: Rs. 22
Option 2: Rs. 33
Option 3: Rs. 20
Option 4: Rs. 44
Correct Answer: Rs. 33
Solution :
The cost price of each article = $\frac{2}{8}$
So, the cost price of 120 articles = $\frac{2}{8}×120=30$
To get a profit of 10%, the selling price should be
= $\frac{100+ \text{Profit}\%}{100}×$ cost price = $\frac{110}{100}×30=33$
Hence, the correct answer is Rs. 33.
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