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If the selling price is doubled, the profit triples. What is the profit percent?

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50%

60%

120%

100%

answer is D.

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Detailed Solution

Concept- Using the formula for profit, which is

Profit = S . P - C . P

and profit percent, which is

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

, where S.P. is the selling price and C.P. is the cost price.
Given is that:
If S.P. is doubled, profit triples.

Assuming S . P . as x

And C . P . as y

We know that:

Profit = S . P – C . P

So here profit will be:

Profit = S . P – C . P

Profit = x - y

Now, according to question, S.P is doubled

S . P = 2 x

So profit will be:

Profit = 2 x - y

Now according to the question, profit gets tripled when S.P is doubled.

∴ Profit = 3 (x - y)

= 3 x - 3 y

Equating the two values of profit, we get:

2 x - y = 3 x - 3 y

……(i)

2 y = x

……..(ii)
Now, since

Profit = x - y

Therefore,
Substituting value of 1 in 2, we get,

Profit = 2 y - y

= y

Now, using this value of profit, we can find out the profit %.
Formula for profit percent is given by:

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

Profit % = \frac{y}{y} \times 100

Profit % = 100 %

Hence, the correct option is 4.

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