Question : A person earns a profit of 30% by selling an article for INR 325. How much per cent should he increase his selling price to earn a profit of 40%?
Option 1: 6.66%
Option 2: 8.25%
Option 3: 7.69%
Option 4: 5.25%
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Correct Answer: 7.69%
Solution : Selling price = INR 325 Profit = 30% of cost price Selling price = cost price + profit 325 = cost price + 30% of cost price ⇒ 325 = 130% of cost price Cost price = $\frac{325}{1.3}$ = INR 250 Profit = 40% of cost price = 0.4 × 250 = 100 Selling price = cost price + profit = 250 + 100 = INR 350 Required percentage = $\frac{350-325}{325}$ × 100 = $\frac{2500}{325}$ = $\frac{100}{13}$ = 7.69% Hence, the correct answer is 7.69%.
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