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There would be a 10% loss, if a toy is sold at Rs. 10.80 per piece. At what price should it be sold to earn a profit of 20%?
1. Rs. 12.00 
2. Rs. 13.20
3. Rs. 14.40 
4. Rs. 12.96 

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Correct Answer - Option 3 : Rs. 14.40 

Given :

Sell price of a toy = 10.80 Rs.

Loss = 10%

Formula used :

Cost price = sell price × 100/(100 - loss)

Calculation :

C.P = 10.80 × 100/90 = 12 

To earn a profit of 20% the selling price of the toy = 12 × 120/100 = 14.40

∴ To earn a profit of 20 % the selling price of the toy will be Rs. 14.40.

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