By selling cakes at ₹84 per dozen, a baker earns a profit of 12%. At what price must he sell each cake to earn a profit of 20%?
Given:
Selling price for 12 cakes (1 dozen) = ₹84
Profit earned = 12%
Formula Used:
Solution:
Cost Price of 12 cakes =
Selling Price for 20% profit =
Price per cake = = ₹7.50
To earn a profit of 20%, he must sell each cake at ₹7.50.
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