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Answer: (B) 56.2%
Explanation
Let cost price be C and actual selling price be S.
Since selling at 4/11 of S results in a 20% loss: (4/11) × S = 0.80 × C (4/11) × S = (4/5) × C S = (11/5) × C = 2.2 × C
Selling at 71% of actual selling price gives: New Selling Price = 0.71 × S = 0.71 × 2.2 × C = 1.562 × C
Profit percentage = [(1.562 × C - C) / C] × 100 = 56.2%