By selling an article for ₹19.5, 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 50%?
Given:
Selling price (SP1) = ₹19.5
Profit percentage (P1) = 10%
Desired profit percentage (P2) = 50%
Concept Used:
Cost Price (CP) =
New Selling Price (SP2) = CP
Increase in Selling Price = SP2 - SP1
Solution:
CP =
CP =
CP = 17.7272...
SP2 = CP
SP2 = 17.7272...
SP2 = 26.5909...
Increase = SP2 - SP1
Increase = 26.5909... - 19.5
Increase = 7.0909...
Increase ≈ ₹7.09
The dealer should increase his selling price by ₹7.09.
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