1.

If selling price is doubled, the profit triples. Find the profit percent.1. 66 2/3 %2. 100%3. 105 1/3 %4. 120%

Answer» Correct Answer - Option 2 : 100%

Given:

New Selling price = 2 × SP

New profit = 3 × P

Concept used:

Profit % = {(SP - CP)/CP} × 100

Calculation:

P = SP - CP      ----(1)

3P = 2SP - CP      ----(2)

On multiplying equation (1) by 3, we get 

3P = 3SP - 3CP     ----(3)

Equating (3) and (2),

3SP - 3CP = 2SP - CP

⇒ SP = 2CP

Now, from (1) we have

P = SP - CP

⇒ P = 2CP - CP

⇒ P = CP

Profit percentage = (P/CP) × 100 = 100%

∴ The profit percentage is 100%.



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