To make a profit of 20% the article should be sold for $12.1
<h3>How to calculate the new selling price </h3>
The new selling price will be solved by comparing the percentage increment with the old selling price
The selling price is $10.8 and the profit is 8%
The cost of the item is gotten from the profit percent as below
10.8 * 0.08 = 0.864 (profit)
cost price + profit = selling price
cost price = selling price - profit
cost price = 10.8 - 0.864
cost price = 9.936
comparing the percentages
8% profit is 0.864, 20% profit will be
8 = 0.864
20 = ?
cross multiplying
8 * ? = 20 * 0.864
? = 2.16
The new selling price
= cost price + profit
= 9.936 + 2.16
= 12.096 approximately $12.1
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