Question : If 2 times of selling price is equal to 3 times of cost price, then what is the profit percentage?
Option 1: 4 percent
Option 2: 40 percent
Option 3: 25 percent
Option 4: 50 percent
Answer (1)
21st Jan, 2024
Correct Answer: 50 percent
Solution :
Let the cost price of 1 item be 1.
So, profit = 3 – 2 = 1
We know, Profit percentage = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100=\frac{1}{2}×100=50\%$
Hence, the correct answer is 50 percent.
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