Select the correct answerA merchant buys an article for 27 and sells it at a profit of 10%. The selling price of the article is?Options3029.73732

Break Down the Problem

1. Identify the Cost Price (CP): The cost price of the article is given as 27.
2. Identify the Profit Percentage: The profit percentage is given as 10%.
3. Calculate the Selling Price (SP): The SP can be calculated from the CP and profit percentage.

Relevant Concepts

The formula to calculate Selling Price (SP) when the profit percentage is known is: $SP = CP + (Profit \, Percentage \times CP)$ Where: $Profit = \frac{Profit \, Percentage}{100} \times CP$

Analysis and Detail

1. Calculate the Profit: $Profit = \frac{10}{100} \times 27 = 2.7$

2. Calculate the Selling Price (SP): $SP = CP + Profit = 27 + 2.7 = 29.7$

Verify and Summarize

• The calculations show that the profit calculated is correct.
• Adding the profit to the original cost price yields the selling price.

Final Answer

The selling price of the article is 29.7.