Multiple choice

The cost price of an article is Rs. 480. If it is to be sold at a profit of 6.25 percent, how much would be its selling price?

  1. ₹510

  2. ₹530

  3. ₹500

  4. ₹535

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

To find selling price with 6.25% profit, convert 6.25% to decimal (0.0625) or fraction (1/16). Profit amount = 480 × 0.0625 = 30. Selling price = Cost price + Profit = 480 + 30 = 510. Alternatively: 480 × (1 + 1/16) = 480 × 17/16 = 30 × 17 = 510.