Question : A man gains 15% by selling a calculator for a certain price. If he sells it at triple the price, then what will be the profit percentage?
Option 1: 125
Option 2: 175
Option 3: 225
Option 4: 245
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Correct Answer: 245
Solution :
Profit = 15% of cost price
Selling price = Cost price + Profit
= cost price + 15% of cost price
= 115% of cost price
When selling price = 3 × original selling price,
So, new selling price = 3 × (115% of cost price) = 345% of cost price
Now, new profit = new selling price – cost price
= 345% of cost price – cost price
= 245% of cost price
Hence, the correct answer is 245.
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