A woman gains 30 percent by selling an article for a certain price. If she sells it at double price, then the profit made is :
Show answer & explanation
Correct answer: A
Explanation
The Correct answer is option 1 i.e. 160 percent
Let the Cost price of the article is 100 units
Profit % = 30%
Formula used
Profit % = [(S.P. - C.P.)/C.P.] × 100
Calculation
⇒ 30 = [(S.P. - 100)/100] × 100
⇒ S.P. = 130 units
Now, New S.P. = 2 × 130 = 260 units
Hence,
New profit % = [(New S.P. - C.P)/C.P.] × 100
= [(260 - 100)/100] × 100
= 160 %