Question

A man gains 10% by selling an article for a certain price. If he sells it at double the selling price, then the profit made is

• A. 120%
• B. 20%
• C. 40%
• D. 100%

Hint:

Use cost price as the base and calculate new profit percentage with changed selling price.

Answer 1

The Correct Option is A

Let the cost price be \(C\).
The original selling price \(S = C + 10\%\ \text{of}\ C = 1.1C\).
If the article is sold at double the selling price, new selling price \(= 2 \times 1.1C = 2.2C\).
Profit \(= \text{New selling price} - \text{Cost price} = 2.2C - C = 1.2C\).
Profit percentage \(= \frac{1.2C}{C} \times 100 = 120\%\).
Thus, the profit made is \(\boxed{120\%}\).