Question : A trader sells an article at 20% 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: 50%
Option 2: 150%
Option 3: 100%
Option 4: 140%
Correct Answer: 140%
Solution :
Given: A trader sells an article at 20% profit.
Let the cost price (CP) = 100
Then the selling price (SP) = (100 + 20) = 120
Now if the CP became half of the original CP,
Then the new CP = $\frac{100}{2}$ = 50
So, the profit percentage = $\frac{SP-CP}{CP}×100$
= $\frac{120-50}{50}×100$
= 140%
Hence, the correct answer is 140%.
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