Question : A person loses 20% on selling 80 pens for INR 40. What should be the selling price of 80 pens to earn a profit of 10%?
Option 1: INR 80
Option 2: INR 60
Option 3: INR 55
Option 4: INR 65
Correct Answer: INR 55
Solution :
Selling price = INR 40
Loss = 20% of cost price
Cost price = loss + selling price
Cost price = 20% of cost price + 40
80% of cost price = 40
Cost price = $\frac{40}{0.8}$ = INR 50
Profit = 10% of 50 = INR 5
Selling price = cost price + profit
= 50 + 5
= INR 55
Hence, the correct answer is INR 55.
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