Question

There would be a 10% loss, if rice is sold at Rs. 54 per kg. To earn a profit of 20% the price of rice per kg will be.
1. Rs. 72
2. Rs. 66
3. Rs. 78
4. Rs. 68

Answer 1

Correct Answer - Option 1 : Rs. 72

Given:

S.P = Rs. 54/kg

Loss = 10%

Formula used:

C.P = S.P × [100/(100 – Loss%)]

Calculation:

C.P = Rs. 54 × (100/90) = Rs. 60

To earn 20% profit

S.P = Rs. 60 × (120/100) = Rs. 72

∴ The price of rice will be Rs. 72/kg