A man gains 10% by selling an article for a certain price. If sells it at double the price, the profit made is?
Correct Answer: 120%
Explanation:
Let the cost price be 100 rupees.
So after 10% profile price would be Rs. 110.
Price when man sells this item at double price = Rs. 220.
Net profit = 220 - 100 = 120.
% Profit = 120 % ( Cost price is Rs. 100)