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:________?
A. 40
B. 100
C. 120
D. 140
Explanation:
Let C.P. = Rs. x.
Then, S.P. = Rs. (12% of x) = Rs. 6x/5
New S.P. = 2 * 6x/5 = Rs. 12x/5
Profit = 12x/5 – x = Rs. 7x/5
Profit = 7x/5 * 1/x * 100 = 140%.