The profit triples if the selling price is doubled. The profit percentage is:
Answer & explanation
Correct answer: option 3
Let C.P be Rs. x and S.P be Rs. y.
Then, 3(y - x) = (2y - x) ⟹ y = 2x
Profit = Rs.(y - x) = Rs.(2x - x) = Rs. x
∴Profit % = (\(\frac{x}{x}\) × 100)%=100%