Question : A shopkeeper sells a box and earns a profit of 5%. For the next box, he decides to charge double the selling price. What is the profit percent on the second box?
Option 1: 100%
Option 2: 110%
Option 3: 200%
Option 4: 80%
Correct Answer: 110%
Solution :
Let the cost price of the first box be 100.
$\therefore$ Selling price of first box = 100 + 5 = 105
He sold the 2nd box doubling the selling price of the first box.
$\therefore$ Selling price of 2nd box = 105 × 2 = 210
So, the profit percentage on the 2nd box $=\frac{210-100}{100}×100=110\%$
Hence, the correct answer is 110%.
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