Correct Answer - Option 4 : 140
Given:
A man gains 20% by selling an article.
Formula used:
S.P = (100 + Profit%)/100 × C.P
Profit = S.P – C.P
Profit% = Profit/C.P × 100
Where,
C.P = Cost Price
S.P = Selling Price
Calculation:
According to the question:
Let S.P be x.
S.P = (100 + 20%)/100 × x
⇒ (120/100) × x = 6x/5
New S.P = 2 × (6x/5) = 12x/5
Now,
Profit = 12x/5 – x = (12x – 5x)/5 = 7x/5
Profit% = [(7x/5) × x] × 100
⇒ 7/5 × 100 = 140%
∴ The percentage of profit will be 140%.
