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A shopkeeper bought an article for ₹319.60. Approximately, at what price should he sell the article to make a 25% profit?
₹450
₹400
₹600
₹500
₹400
To find a 25% profit, multiply the cost price by 1.25. Since 319.60 is very close to 320, 320 ×1.25=400.Thus, the selling price is approximately ₹400.
Cost Price (CP) = ₹319.60, Target Profit Percentage = 25%
SP=CP×(1+100Profit%)
To find a 25% profit, multiply the cost price by 1.25. Since 319.60 is very close to 320, 320 ×1.25=400.Thus, the selling price is approximately ₹400.
Don't confuse profit percentage with markup percentage; here profit is calculated on the cost price.
Identify Given Values
We are given the cost price of the article CP=₹319.60 and the desired profit percentage $\text{Profit}% = 25%.
CP=319.60,Profit%=25%
Apply Selling Price Formula
The formula to find the selling price (SP) when cost price and profit percentage are given is SP=CP×(1+100Profit%).
SP=319.60×(1+10025)
Calculate SP
Substitute the values: SP=319.60×1.25=399.50. Rounding to the nearest whole rupee gives approximately ₹400.
SP=319.60×1.25≈400
B is correct because the selling price required to make a 25% profit on ₹319.60 is approximately ₹400.
Approximation shortcuts in arithmetic save crucial seconds in competitive exams when exact decimals are not mandatory among options.
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