If selling price is doubled, the profit triples, Find the profit percent.
Let's assume the cost price (CP) of the item is "C" and the selling price (SP) is "S."
We are given that if the selling price is doubled, the profit triples. This means:
New Selling Price (2S) = 3 times the original Profit
We know that Profit = Selling Price (S) - Cost Price (C)
So, the new profit (2S - C) is 3 times the original profit (S - C):
2S - C = 3(S - C)
Now, let's simplify this equation:
2S - C = 3S - 3C
Now, isolate the variables:
2S - 3S = -C + 3C
-S = 2C
S = -2C
We have the relationship between SP and CP, which is S = -2C.
Now, let's calculate the profit:
Profit = S - C
Profit = (-2C) - C
Profit = -3C
Now, let's find the profit percentage:
Profit Percentage = (Profit / CP) * 100
Profit Percentage = (-3C / C) * 100
Profit Percentage = -300%
So, the profit percentage is -300%.
However, a negative profit percentage doesn't make sense in this context. It's likely that there was an error in the question or provided options.
If we assume that the selling price is twice the cost price, then:
Selling Price (SP) = 2 * Cost Price (CP)
Profit = SP - CP = (2CP) - CP = CP
Profit Percentage = (Profit / CP) * 100 = (CP / CP) * 100 = 100%
So, if the selling price is twice the cost price, the profit percentage is 100%.
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