Read Mode
Profit % (Change In S.p)
A man gains 20% by selling an article for a certain price. If he sells it at double that price, what will be the percentage of profit?
Explanation and memory cue
If the man gains 20% by selling at price P, then the cost price (C) is P/1.2. Selling at double the price (2P) results in profit = 2P - C = 2P - P/1.2 = 2P - 0.8333P = 1.1667P. The profit percentage = (Profit / Cost Price) × 100 = (1.1667P / (P/1.2)) × 100 = 1.1667 × 1.2 × 100 = 140%. Therefore, the profit percentage when selling at double the original price is 140%.