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A man gains 20% by selling an article for a certain price. If the sells it at double the price, the percentage of profit will be:________?

Correct answer: D. 140

  • A. 40
  • B. 100
  • C. 120
  • D. 140

Explanation

A 20% gain means the original selling price is 120% of cost price, or Rs. 1.20C for cost Rs. C. At double that price, selling price is Rs. 2.40C, so profit is Rs. 1.40C and profit percent = (1.40C/C) x 100 = 140%. The likely wrong choice is 120%, which states the new selling price as a percentage of cost rather than the profit percentage.

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About Profit and Loss

Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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