By selling an article for ₹19.5, a dealer makes a profit of 30%. By how much should he increase his selling price (in ₹) to make a 35% profit?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2, i.e., 0.75.
Cost price = Selling price ÷ (1 + Profit%)
= 19.5 ÷ 1.3 = 15
For 35% profit, new selling price = Cost price × (1 + 35/100)
= 15 × 1.35 = 20.25
Increase in price = 20.25 − 19.5 = 0.75