P sold an item for ₹ 70 and earned 100% profit. What should be the selling price of the item to earn 150% profit?
Answer & explanation
Correct answer: option 3
Let the price = 100%
profit given = 100%
Then the sp will be = 200%
Now, 200% of CP = 70
So, if the profit is 150% then the sp will be 250% of the CP,
then 250% of CP = 70 × 250/200 = ₹ 87.50