Merchant selling price for 20% Gain

Here is the problem,

on selling an article for $76$ dollars merchant loses $4$ dollars, to gain $20$% profit he has to sell it for X dollars.The selling price of the article to gain $20$% is...?

I found it as $96$ but the answer says it as more than $96$,,am I correct ..?

• Thank you guys...I found the printing mistake as 4% not 4$so for me the answer was right... Aug 18 '14 at 5:55 2 Answers If the item is worth$x$, then$76-x=-4\implies x=80$. A$20\%$profit is then$80\cdot\frac{2}{10}=16$. So the selling price is$80+16=96$. So it seems you are correct. Maybe the selling price based on the trade margin has to be calculated. The formula is$\text{margin(%)}=\frac{\text{selling price - cost}}{\text{selling price}}=\frac{\text{x - 80}}{x}=0.2$• @VellankiGaneshBabu Have you seen, that the result of this equation is not$96 ? Aug 18 '14 at 5:59
• yes it is 95 if 4% loss (not 4$), I mean I have calculated it. Aug 18 '14 at 6:07 • @VellankiGaneshBabu Did you used the formula, which I have posted ? The calculation and the result is different from yours and Joel Bosvelds. What have you calculated ? Aug 18 '14 at 6:29 • I have used your formula for the calculation of profit margins(subsequent formulas), I meant nice timing in Bad context though... Aug 18 '14 at 9:34 • @VellankiGaneshBabu But I have in both cases (4%,$4) different results. That is why I asked for a calculation. Aug 18 '14 at 9:55