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