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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