Question : A trader sells an article at 20 percent profit. If he buys it at half of the cost price and sells at the same selling price as before, then what will be the profit percentage?
Option 1: 240 percent
Option 2: 40 percent
Option 3: 140 percent
Option 4: 60 percent
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Correct Answer: 140 percent
Solution :
Let the cost Price of the article be Rs. 100
Selling Price of the article at 20% profit = Rs. 100 + Rs. 20 = Rs. 120
The new Cost Price of the article = Rs. 50
Selling Price = Rs. 120
Now Profit = Rs. 120–Rs. 50 = Rs. 70
Profit percentage = $\frac{\text{Profit}}{\text{Cost Price}}\times 100$%
⇒ Profit percentage = $\frac{70}{50}\times 100 = 140$%
Hence, the correct answer is 140 percent.
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