A merchant earns a profit of 20% by selling a basket containing 80 apples whose cost is 240 but he gives one-fourth of it to his friend at cost price and sells the remaining apples. In order to earn the same profit, at what price must he sell each apple ?

A merchant earns a profit of 20% by selling a basket containing 80 app

1.	A merchant earns a profit of 20% by selling a basket containing 80 apples whose cost is 240 but he gives one-fourth of it to his friend at cost price and sells the remaining apples. In order to earn the same profit, at what price must he sell each apple ?
A.	3.00
B.	3.60
C.	3.80
D.	4.80
Answer» D. 4.80

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A merchant earns a profit of 20% by selling a basket containing 80 apples whose cost is 240 but he gives one-fourth of it to his friend at cost price and sells the remaining apples. In order to earn the same profit, at what price must he sell each apple ?

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