Correct Answer - Option 4 : Rs. 1,280
Given:
Profit = 20%
New profit if sells Rs. 8 more = 30%
Concept used:
Selling price = (100 + Profit)% of C.P.
Calculation:
Let the C.P. of an article be Rs. x.
According to the question,
120% of C.P. + 8 = 130% of C.P.
⇒ 130% of x – 120% of x = 8
⇒ 10% of x = 8
⇒ 10/100 × x = 8
⇒ x = 80
Original C.P. of 16 article = 16x
⇒ Required C.P. = 16 × 80
⇒ Required C.P. = Rs. 1280
∴ The original cost price of 16 such articles is Rs. 1280.