Question

A shopkeeper buys an item for Rs.2800 and sells it at a 15% profit. What is the selling price?

• A. Rs.3120
• B. Rs.3140
• C. Rs.3220
• D. Rs.3240

Hint:

Multiply cost price by $(1 + \frac{Profit}{100})$ to get selling price.

Answer 1

The Correct Option is C

To determine the selling price of the item, we need to calculate the increase in price based on the profit percentage.

Given:

• Cost Price (CP) = Rs. 2800
• Profit Percentage = 15%

To Find:

• Selling Price (SP)

Step-by-step Solution:

1. Calculate the profit amount using the formula:

\(\text{Profit} = \frac{\text{Profit Percentage}}{100} \times \text{Cost Price (CP)}\)

Substituting the given values:

\(\text{Profit} = \frac{15}{100} \times 2800\)

\(\text{Profit} = 420\)

1. Calculate the Selling Price (SP) using the formula:

\(\text{SP} = \text{CP} + \text{Profit}\)

Substituting the calculated profit:

\(\text{SP} = 2800 + 420\)

\(\text{SP} = 3220\)

Thus, the selling price of the item is Rs. 3220.

Conclusion: The correct option is Rs. 3220.