If the rice is sold at Rs 56 per kg, there would be a 40% loss. To earn a profit of 20% what should be the price of rice (per kg)?
Selling price = Rs. 56
Loss % = 40%
=> Cost price = $$\frac{56}{(100-40)}\times100$$
= $$\frac{5600}{60}=Rs.$$ $$\frac{280}{3}$$
Now, to earn 20% profit, => Selling price = $$\frac{280}{3}+(\frac{20}{100}\times\frac{280}{3})$$
= $$\frac{280}{3}+\frac{56}{3}=\frac{336}{3}=Rs.$$ $$112$$
=> Ans - (A)
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