Multiple choice

A man gains 20% by selling an article for a certain price. If he sells it at double the selling price, then the percentage of profit will be

  1. 130%

  2. 140%

  3. 150%

  4. 160%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let cost price be 100. Selling price = 120. If selling price doubles, new SP = 240. Profit = 240 - 100 = 140. Profit % = 140%.

AI explanation

Let the cost price be 100, so the initial selling price for a 20% profit is 120. Doubling this selling price gives a new selling price of 240. Using the profit percentage formula, ((240 - 100) / 100) * 100 = 140%. The profit percentage is 140%.

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