A man earns a profit of 20 percent by selling a calculator for a certain price. If he sells that calculator at double the price, then what will be the profit percentage ?
Answer & explanation
Correct answer: option 1
Let the CP of the calculator = 100
Then, the selling price of the calculator = 120
According to the given condition,
if he sells the calculator at 120 × 2 = 240
then the profit will be = 240 - 100 = 140
Profit % = \(\frac{140 × 100}{100}\) = 140%