The cost price of a pair of socks is Rs.120 and has a profit margin of 42%. What is the selling price?
- Rs. 170.4
- Rs. 182.4
- Rs. 172.4
- Rs. 180.4
Explanation
- Cost price (CP) = Rs.120
- Profit margin = 42% of CP
Profit = 42% of 120 = (42/100) × 120 = Rs.50.4
Selling price (SP) = CP + Profit = 120 + 50.4 = Rs.170.4
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