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The cost of an article is Rs. 500 and on selling it, the shopkeeper got 6.4% profit. Find the selling price of article.
1. Rs. 522
2. Rs. 532
3. Rs. 544
4. Rs. 514

1 Answer

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Correct Answer - Option 2 : Rs. 532

Given:

Cost price of article = Rs. 500

Profit% = 6.4%

Formula used:

SP = CP × [(100 + Profit%)/100]

Calculation:

Selling price = Rs. 500 × [(100 + 6.4)/100]

⇒ Rs. 500 × (106.4/100)

⇒ Rs. 532

∴ The selling price of article is Rs. 532

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