Merchant selling price for 20% Gain

Question

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 ..?

Answer 1

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.

Answer 2

Maybe the selling price based on the trade margin has to be calculated. The formula is

$\text{margin(%)}=\frac{\text{selling price - cost}}{\text{selling price}}=\frac{\text{x - 80}}{x}=0.2$