By selling an article for ₹19.5, a dealer makes a profit of 10%. By how much should he increase his selling price (in ₹, rounded off to two decimal place) so as to make a profit of 30%?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 3.55.
CP of the article = SP × 100/(100 + P)
⇒ 19.5 × 100/110 = 195/11
Now, for profit = 30%, SP = CP × 130/100
⇒ 195/11 × 130/100 = 23.045
Now, required difference = 23.045 - 19.5 = 3.55