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A man gains 20% by selling an article for a certain price. If he sells it at double the price, the percentage of profit will be :
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- 40%
- 140%
- 100%
- 120%
Correct Option: B
Let the CP be $ 100.
∴ SP = $ 120
New SP = $ 240
Profit = New SP - CP
Profit = $ (240 – 100) = $ 140
| ∴ Profit % = | × 100 % | CP |
| Profit % = | × 100 = 140% | 100 |
