A shopkeeper buys 300 identical articles at a total cost of $ 1500. He fixes the selling price of each article at 20% above the cost price and sells 260 articles at the price. As for the remaining articles, he sells them at 50% of the selling price. Calculate the shopkeeper's total profit.
- $ 180
- $ 185
- $ 200
- $ 190
- $ 170
cost price of each item = \( 1500 \over 300 \) = $ 5
selling price at 20% above the cost price = 5 + 5 × .2 = $ 6
selling price of 260 items = 260 × 6 = $ 1560
selling price of remaining 40 items = 40 × 6 × .5 = $ 120
Total profit = 1560 + 120 - 1500 = $ 180