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.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