A shopkeeper has 76 articles of same price. He sells 20 articles at a profit of 15%, 40 at a profit of 19% and the remaining at a profit of 25%. He ends up making a profit of ₹27,740. The cost price (in ₹) of 1 article is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 1900.
Let CP of 1 article be ₹x.Total profit = ₹27,740
Profit = 20×15%×x + 40×19%×x + 16×25%×x
= x[20×0.15 + 40×0.19 + 16×0.25]
= x[3 + 7.6 + 4] = x × 14.6
So, x × 14.6 = 27740
⇒ x = 27740 ÷ 14.6 = ₹1,900