A horse was sold for Rs.60,000 at a profit of 20%. For what price should he have sold to gain a 30% profit?

Rs.64,000 Rs.65,000 Rs.50,000 Rs.55,000

Rs.65,000

Let the CP = 100x. By selling the horse at 20% profit, so SP will be: SP = \(\frac{100x(100 + 20)}{100}\) = 120x According to the question: ⇒ 120x = 60000 ⇒ x = 500 ⇒ CP = 100x = 50000 Now to gain 30% ⇒ SP = \(\frac{50000(100 + 30)}{100}\) = 65000