A bookseller sold a book for Rs. 60/- to make a profit of 20%. In order to earn a profit of 10%, he should have sold it for:

A. 55
B. 50
C. 65.5
D. 70

Answer

Correct Answer: A. 55


Solution

Given Formula

SP = Sale price

CP = Cost price

SP = [(100 + Gain%) / 100] x CP

60 = [ ( 100+20 ) /100 ] x CP

⇒ CP = 50

To earn 10% profit, use

SP = [(100 + Gain%) / 100] x CP

SP = [ (100 +10 )/100] x 50

by solving this

SP = 55

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