By selling an article for ₹21, a dealer makes a profit of 20%. By how much should he increase his selling price (in ₹) so as to make a profit of 50%?
Given:
Initial Selling Price (SP1) = ₹21
Profit1 = 20%
Profit2 required = 50%
Formula Used:
Solution:
Calculate CP: CP = = ₹17.5
Calculate SP2 for 50% profit: SP2 = = ₹26.25
Increase in SP = SP2 - SP1 = 26.25 - 21 = ₹5.25
So the correct answer is (b).
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60 Mins English English20 Questions40 Marks12 Mins English English80 Questions160 Marks60 Mins EnglishBy selling an article for ₹21, a dealer makes a profit of 20%. By how much should he increase his selling price (in ₹) so as to make a profit of 50%?
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