Question 57

A man gains 10% by selling an article for a certain price. If he sells it at double the price, the profit made is

Solution

Let cost price be 100

Then, selling price will be 110 as profit is 10%

If he sells it at double the price then selling price would be 110 x 2 = 220

Profit percentage = $$\frac{(220 - 100)}{100} \times 100$$

= $$\frac{120}{100} \times 100$$

= 120%

Hence, option A is the correct answer.

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