Profit and Loss Q.1

0. An umbrella was sold at a profit of 20%. What is the selling price of the umbrella if the shopkeeper procured it at a cost of Rs 180?

Answer
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Option : B
Explanation : Substituting values in the formula above, we get:
Selling price = [(100 + 20)/100] × 180
Selling price = 12 × 18
Selling price = 216
Therefore, the selling price of this umbrella is Rs 216.

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