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When an article is sold for rs 70, 1/7th of the selling price is profit. If the person wants 20%profit on cost price, what will be the selling price?
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2
72 should be the price
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4
SP=70
PROFIT =(1/7)×70=10
HENCE
CP=SP-PROFIT
CP=70-10
CP=60
IF PROFIT WANTS 20%
THEN NEW PROFIT IS (20/100)×60=12
SP=CP+PROFIT
SP=60+12
THEN NEW SP = 72
PROFIT =(1/7)×70=10
HENCE
CP=SP-PROFIT
CP=70-10
CP=60
IF PROFIT WANTS 20%
THEN NEW PROFIT IS (20/100)×60=12
SP=CP+PROFIT
SP=60+12
THEN NEW SP = 72
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