Question

A book seller sold a book for rs 40 to make a profit of 15% in order to return a profit of 20% he should have sold it for??

Answer 1

Answer:

He should have sold it for Rs.41.74 (approx) to make a profit of 20%

Step-by-step explanation:

When SP = Rs.40, Profit% = 15%

Since Profit = 15%, we have:

SP = CP + (15% of CP)

SP = 1.15*CP

40 = 1.15*CP

=> CP = (40/1.15)

If the profit has to be 20%, then:

SP = CP + (20% of CP)

     = 1.20*CP

      = 1.20*(40/1.15)

      = 48/1.15

      = 41.74 (approx)

Selling price should be Rs.41.74 (approx) so as to make a profit of 20%.