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%?
Answer
The correct answer is D: 1.67. Cost price = 20/1.20 = ₹50/3. Selling price for 30% profit = (50/3) × 1.30 = ₹65/3.