A bookseller sold a book for Rs. 40.00 to make a profit of 15% percent. In order to earn a profit of 20%, he should have sold it for?
Answer: 41.74
Explanation
Selling price (SP) = Rs. 40.00
Profit percentage = 15%
Cost price (CP) = SP / (1 + 15/100)
= 40 / 1.15
= Rs. 34.78
To earn a 20% profit:
New selling price (SP) = CP * (1 + 20/100)
= 34.78 * 1.20
= Rs. 41.74
The correct answer is 41.74.
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