By selling an article for ₹20, a dealer makes a profit of 20%. By how much should he increase his selling price (in ₹, rounded off to two decimal place) so as to make a profit of 30%?

Question

Accepted Answer

1.67. Cost price = 20/1.20 = ₹50/3. Selling price for 30% profit = (50/3) × 1.30 = ₹65/3. Increase needed = 65/3 − 20 = 65/3 − 60/3 = 5/3 ≈ ₹1.67.

By selling an article for ₹20, a dealer makes a profit of 20%. By how much should he increase his selling price (in ₹, rounded off to two decimal place) so as to make a profit of 30%?

Explanation

More Profit and Loss questions

Want more SSC MTS practice?