By selling an article for ₹20, a dealer makes a profit of…

By selling an article for ₹20, 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 40%?

Show answer & explanation

Correct answer: A

Explanation

The correct answer is Option 1 i.e. 5.45.

CP = $20\over1.10$ = ₹ $200\over11$

New SP for 40% profit = $200\over11$ × $140\over100$ = $280\over11$

Increase = $280\over11$ - 20 = $280-220\over11$ = $60\over11$ = 5.45

SSC MTS 2024 PYQ — Question 20