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If a product with a cost price of $50 is sold at a 20% profit, what is the selling price?
  • a)
    $60
  • b)
    $55
  • c)
    $45
  • d)
    $40
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
If a product with a cost price of $50 is sold at a 20% profit, what is...
Profit Percentage = 20%. Profit = 20% of $50 = 0.2 * $50 = $10. Selling Price = Cost Price + Profit = $50 + $10 = $60. Therefore, the selling price is $60.
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Most Upvoted Answer
If a product with a cost price of $50 is sold at a 20% profit, what is...
Calculation of Selling Price with 20% Profit:
To calculate the selling price of a product with a 20% profit margin, you need to add the profit percentage to the cost price.

Cost Price:
Cost Price (CP) = $50

Profit Percentage:
Profit Percentage = 20%

Calculation:
Profit = 20% of $50 = 0.20 x $50 = $10
Selling Price (SP) = CP + Profit
SP = $50 + $10 = $60
Therefore, the selling price of the product with a 20% profit margin is $60.

Final Answer:
The correct option is (A) $60.
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If a product with a cost price of $50 is sold at a 20% profit, what is the selling price?a)$60b)$55c)$45d)$40Correct answer is option 'A'. Can you explain this answer?
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