anup.shesh wrote:A shopkeeper sells an item at a profit of 6%. Had he sold at a loss of 2%, he would have earned $4 less. Find the selling price of the item.
(A) $49
(B) $50
(C) $52
(D) $53
(E) $106
The profit is 6%. The loss is 2%.
6% - (-2%) = 8%.
Thus, the difference between making a 6% profit and suffering a 2% loss -- $4 -- must be 8% of the cost.
4 = .08C
C = 4/.08 = 50.
Thus, the selling price = cost + 6% profit = 50 + .06*50 = 53.
The correct answer is
D.
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