If selling price is doubles, the profit tripled, find the profit perce

Question

If selling price is doubles, the profit tripled, find the profit percent?

A. 66.5%
B. 300%
C. 200%
D. 100%
E. 120%

MarmikUpadhyay · Accepted Answer

Given: If selling price is doubled, then the profit gets tripled. Profit percentage =?

Let Selling price = S, Cost price = C, Profit = P
P = S - C
Profit percentage =  \frac{P}{C} * 100  =?

From given data:
3P = 2S - C

Using the above equations:
3 * (S - C) = 2S - C
=> 3S - 2S = 3C - C
=> S = 2C

=> P = S - C = 2C - C = C

Profit percentage =  \frac{P}{C} * 100  =  \frac{C}{C} * 100  = 100%

So, correct answer is option  D .

ScottTargetTestPrep · Answer

Solution:

Recall that Profit = Revenue - Cost. We can let p, r, and c be the original profit, revenue and cost, respectively. We are given that the new revenue and profit are 2r and 3p, respectively. We can create equations:

p = r - c

and

3p = 2r - c

Rewriting the first equation, we have: r = p + c. Substituting p + c for r in the second equation, we have:

3p = 2(p + c) - c

3p = 2p + c

p = c

We see that the profit and the cost are equal. Since the profit is always stated as a percentage of the cost, then when the profit is equal to the cost, it’s 100 percent of the cost.

Answer: D

ScottTargetTestPrep · Answer

Solution:

Recall that Profit = Revenue - Cost. We can let p, r, and c be the original profit, revenue and cost, respectively. We are given that the new revenue and profit are 2r and 3p, respectively. We can create equations:

p = r - c

and

3p = 2r - c

Rewriting the first equation, we have: r = p + c. Substituting p + c for r in the second equation, we have:

3p = 2(p + c) - c

3p = 2p + c

p = c

We see that the profit and the cost are equal. Since the profit is always stated as a percentage of the cost, then when the profit is equal to the cost, it’s 100 percent of the cost.

Answer: D

HarshavardhanR · Answer

I think the question can be worded more clearly - clarifying that original profit percent is what is being asked, not the new profit percent (once sp has doubled, profit has tripled).

Harsha

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Emdad · Answer

Let's assume the cost price is 100 tk.
If we sell it at (100+x) tk, the profit is 'x' tk.

If the SP is doubled, the price will be = 2(100+x)
In this scenario, the profit tripled, ie, 2(100+x)-100 = 3x
or, 200+2x-100=3x
or, x = 100

So, the answer is D.

jipandeyji · Answer

Cost = C 
Selling Price = S

3(S-C) = 2S-C (Given that when Selling price doubles Profit Triples) 
=> S = 2C

As Selling price is double the Cost
hence, Profit must be 100%

=> D

If selling price is doubles, the profit tripled, find the profit perce

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GMAT Problem Solving (PS) Questions

If selling price is doubles, the profit tripled, find the profit perce

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