Multiple choice

A grocer sold an article at $75. The cost price of the article was twice the profit earned. What was the percentage profit on the article?

  1. 30%

  2. 40%

  3. 50%

  4. 60%

  5. 70%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

SP = 75. CP = 2 * Profit. SP = CP + Profit = 2*Profit + Profit = 3*Profit. 3*Profit = 75 => Profit = 25. CP = 2 * 25 = 50. Profit % = (25/50) * 100 = 50%.

AI explanation

Given the selling price formula Selling Price equals Cost Price plus Profit, and knowing the cost price is twice the profit, we can write 75 equals 2P plus P. Solving for the profit P gives 25, making the cost price 50. The percentage profit is calculated as (Profit divided by Cost Price) multiplied by 100, so (25 divided by 50) multiplied by 100 equals 50%.

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