nahid078 wrote:If the selling price is doubled, the profit is tripled, what is the percentage of profit?
1) 50%
2) 100%
3) 150%
4) 200%
5) 250%
An alternate approach is to PLUG IN THE ANSWERS, which represent the original mark-up.
Let the cost = 100.
Answer choice D: 200%
Original profit = 200% of 100 = 200.
Original selling price = cost + profit = 100 + 200 = 300.
Doubled selling price = 2*300 = 600.
New profit = (new selling price) - (cost) = 600-100 = 500.
Since the profit increases from 200 to 500, it does NOT quite triple.
Eliminate D.
Answer choice B: 100%
Original profit = 100% of 100 = 100.
Original selling price = cost + profit = 100 + 100 = 200.
Doubled selling price = 2*200 = 400.
New profit = (new selling price) - (cost) = 400-100 = 300.
Since the profit increases from 100 to 300, it TRIPLES.
The correct answer is
B.
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