Question : By selling 90 pens for INR 80, a man loses 20%. What should be the selling price (in INR) of 90 pens for 20% profit?
Option 1: 90
Option 2: 100
Option 3: 110
Option 4: 120
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Correct Answer: 120
Solution :
Loss = 20% of cost price when the selling price of 90 pens is INR 80
Selling price = Cost price – Loss
⇒ INR 80 = cost price – 20% of cost price
⇒ INR 80 = 80% of cost price
⇒ Cost price = INR 100
Now, profit = 20% of cost price = INR 20
So, new selling price = cost price + profit
= INR 100 + INR 20
= INR 120
Hence, the correct answer is 120.
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