Question

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

Answer 1

Let the C.P. = $x$

Then S.P. = $\frac{120}{100}x=\frac{6x}{5}$

New S.P. = $2\frac{6x}{5}=\frac{12x}{5}$

Profit = $\frac{12x}{5}-x=\frac{7x}{5}$

Profit % =$\frac{Profit}{C.P.}\times 100$

= $\frac{\frac{7x}{5}}{\frac{x}{1}}\times 100=140$ %