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