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Ramesh purchased 64 items at Rs 450 per item. He invested Rs 1600 in transportation of these items. What should be the selling price of each item if he has to gain 20% as profit ?
- ARs. 150
- BRs. 370
- CRs. 420
- DRs. 570
Correct answer: D
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CCommunity
Rs. 570
Total cost price = (64 x 450) + 1600 = 28800 + 1600 = 30400
For 20% profit, SP = 30400 x 120/100 = 36480
∴ SP per item = 36480/64 = 570
Total cost price = (64 x 450) + 1600 = 28800 + 1600 = 30400
For 20% profit, SP = 30400 x 120/100 = 36480
∴ SP per item = 36480/64 = 570