An item is sold for taka 65, giving the retailer a profit of 30% of the cost. What will be the new retail price if the retailer cuts his profit to 10% costs?

An item is sold for taka 65, giving the retailer a profit of 30% of the cost. What will be the new retail price if the retailer cuts his profit to 10% costs? Correct Answer 55

At 30% profit, 130 tk the retail cost is 100 tk 1 tk the retail cost is 100/130 tk 65 tk the retail cost is ( 100×65)/130 = 50 Tk At 10% out of cost profit 100 tk the sellling price is 110 tk 1 tk the selling price is 110/100 tk 50 tk the selling price is ( 110×50)/100 = 55 Tk.
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