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 places) so as to make a profit of 50%?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 7.09.
Cost price(CP) = = 17.73
New Selling Price for 50% profit = 17.73 × 1.50 = 26.59
Required increase = 26.59 - 19.50 = 7.09