Question : Paras sold his goods for Rs. 960 at 33.33% profit. Find the price at which he must sell his goods so that he earns 20% profit.
Option 1: Rs. 792
Option 2: Rs. 720
Option 3: Rs. 854
Option 4: Rs. 864
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Correct Answer: Rs. 864
Solution :
Given,
Selling Price = Rs. 960
Profit = 33.33% of cost price
Selling price = Cost price + Profit
⇒ 960 = 133.33% of cost price,
⇒ Cost price = $\frac{960×100}{133.33}$ = Rs. 720
When profit = 20% of cost price,
⇒ Selling price = 120% of Rs. 720 = Rs. 864
Hence, the correct answer is Rs. 864.
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