If the selling price is tripled, the profit becomes 5 times. What is the profit percent?
- A100%
- B200%
- C50%
- D150%
Solution & Step-by-step Explanation
Let the original Cost Price be CP and original Selling Price be SP.
Original Profit (P) is given by:
P=SP−CP
According to the given condition, if selling price is tripled (3SP), the new profit becomes 5 times the original profit (5P):
5P=3SP−CP
Substitute P=SP−CP into the second equation:
5(SP−CP)=3SP−CP
5SP−5CP=3SP−CP
5SP−3SP=5CP−CP
2SP=4CP
SP=2CP
Original Profit:
P=SP−CP=2CP−CP=CP
Profit percentage is calculated as:
Profit Percent=(
CP
Profit
)×100%=(
CP
CP
)×100%=100%
Original Profit (P) is given by:
P=SP−CP
According to the given condition, if selling price is tripled (3SP), the new profit becomes 5 times the original profit (5P):
5P=3SP−CP
Substitute P=SP−CP into the second equation:
5(SP−CP)=3SP−CP
5SP−5CP=3SP−CP
5SP−3SP=5CP−CP
2SP=4CP
SP=2CP
Original Profit:
P=SP−CP=2CP−CP=CP
Profit percentage is calculated as:
Profit Percent=(
CP
Profit
)×100%=(
CP
CP
)×100%=100%