A shopkeeper purchases an article for Rs. $1{,}500$ and wishes to sell it at a profit of $16\%$. The selling…

A shopkeeper purchases an article for Rs. $1{,}500$ and wishes to sell it at a profit of $16\%$. The selling price should be
  1. Rs. $1{,}716$
  2. Rs. $1{,}740$
  3. Rs. $1{,}750$
  4. Rs. $1{,}800$

Solution

$\text{SP} = 1500 \times \dfrac{116}{100} = 1500 \times 1.16 = 1740$.

Asked in: IMO

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