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A man gains 15% by selling an article for a certain price. If he sells it at double the price, then the % of profit will be
- a)130%
- b)115%
- c)30%
- d)40%
- e)None of these
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
A man gains 15% by selling an article for a certain price. If he sells...
CP = 100, 15% GAIN = 115
SP = 230
P = 230-100 = 130
% = 130%
SP = 230
P = 230-100 = 130
% = 130%
Most Upvoted Answer
A man gains 15% by selling an article for a certain price. If he sells...
Problem Analysis:
Let's assume the cost price of the article is $100. According to the given information, the man gains 15% by selling it for a certain price. This means he sells it for $115.
Solution:
Now, let's consider the second scenario where the man sells the article at double the price.
Calculating the Selling Price:
To find the selling price, we need to double the cost price. Therefore, the selling price will be $100 * 2 = $200.
Calculating the Profit:
To calculate the profit, we subtract the cost price from the selling price.
Profit = Selling Price - Cost Price
= $200 - $100
= $100
Calculating the Percentage of Profit:
To calculate the percentage of profit, we use the formula:
Percentage of Profit = (Profit / Cost Price) * 100
= ($100 / $100) * 100
= 100%
Conclusion:
So, the percentage of profit when the man sells the article at double the price is 100%. Therefore, the correct option is A) 130%.
Let's assume the cost price of the article is $100. According to the given information, the man gains 15% by selling it for a certain price. This means he sells it for $115.
Solution:
Now, let's consider the second scenario where the man sells the article at double the price.
Calculating the Selling Price:
To find the selling price, we need to double the cost price. Therefore, the selling price will be $100 * 2 = $200.
Calculating the Profit:
To calculate the profit, we subtract the cost price from the selling price.
Profit = Selling Price - Cost Price
= $200 - $100
= $100
Calculating the Percentage of Profit:
To calculate the percentage of profit, we use the formula:
Percentage of Profit = (Profit / Cost Price) * 100
= ($100 / $100) * 100
= 100%
Conclusion:
So, the percentage of profit when the man sells the article at double the price is 100%. Therefore, the correct option is A) 130%.
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A man gains 15% by selling an article for a certain price. If he sells it at double the price, then the % of profit will bea)130%b)115%c)30%d)40%e)None of theseCorrect answer is option 'A'. Can you explain this answer?
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