A man earns a profit of 45% by selling a bike for a certain price. If he sells that bike at double the price, then what will be the profit percentage?
Answer & explanation
Correct answer: option 4
Let the CP be 100,
then profit = 45, and SP = 100 + 45 = 145
If the SP is doubled, new SP = 290
Profit = 290 - 100 = 190
Profit percent = $\frac{190}{100}$ = 190%