Question

Tick (✓) the correct answer:
On selling an article at a certain price a man gains 10%. On selling the same article at double the price, gain per cent is
(a) 20%
(b) 100%
(c) 120%
(d) 140%

Answer 1

(c) 120%

Let the SP and CP of the article be Rs x and y, respectively.
Gain percentage = 10%
⇒ 10 = $\frac{x-y}{y}\times 100$
⇒ y = $\frac{10x}{11}$

According to the question, we have:

SP = Rs 2x
∴ Gain percentage = $\frac{\mathrm{gain}}{\mathrm{CP}}\times 100$

$$\begin{gathered} =\frac{2x-{\displaystyle \frac{10x}{11}}}{{\displaystyle \frac{10x}{11}}}\times 100 \\ =\frac{12}{10}\times 100 \\ =120\% \end{gathered}$$