A television manufacturer earns 20% profit by selling each T.V. set for Rs. 14400. If the production cost is increased by 15%, what should be the new selling price of a set so as to gain 15%?

Step 1: Find the initial Cost Price (CP)We know the initial selling price is Rs. 14400 and the profit is 20%.The formula for Selling Price is:$$Selling Price = Cost Price \times (1 + {Profit \%}\{100})14400 = Cost Price x (1 + 0.20) 14400 = Cost Price x 1.20