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 place) so as to make a profit of 35%?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 4.54 .
Cost Price (CP) = 20 / 1.10 = ₹18.18
To make 35% profit, new Selling Price = 18.18 × 1.35 = ₹24.54
Increase required = 24.54 – 20 = ₹4.54