Question

By selling an article for ₹20, a dealer makes a profit of 10%. By how much should he increase his selling price (in ₹, rounded off to two decimal place) so as to make a profit of 20%?

• A. 2.82
• B. 4.82
• C. 1.82
• D. 3.82

Answer 1

Answer:

C. 1.82

Selling price = ₹20
Profit = 10%

Let the cost price be (x).

1.1x=20

$x=\frac{20}{1.1}=18.1818\ldots$

For a profit of 20%, new selling price:

$1.2\times18.1818=21.8181\ldots$

Increase in selling price:

21.8181 - 20 = 1.8181

Rounded to two decimal places:

₹1.82