On selling an article for Rs. 64 one loses 20% . In order to gain 20%, what should be the selling price?

Rs. 96
Rs. 98
Rs. 94
Rs. 99

Correct Answer: Rs. 96

Explanation:

Let the cost price = Rs. N, loss = 20% and SP = Rs. 64
N = (100/80) x 64 = Rs. 80
Now, CP = Rs. 80, and gain = 20%
so SP = (120/100) x 80 = Rs. 96

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