A shopkeeper sells a wallet at 20% profit. If he sells it at double the selling price, then what will be the percentage of profit?

80%

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140%

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150%

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100%

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40%

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Solution

The correct option is B 140%
Let the cost price be Rs. 100, then
Selling price = 100 × 120% = Rs. 120
New selling price = 120 × 2 = Rs. 240
Profit = 240 – 100 = Rs. 140
Profit percentage = 140%
Hence, option B is correct.

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