Select the correct answerA man gains 15% by selling a calculator for a certain price. If he sells it at the triple the price, then what will be the profit percentage?Options225175125245
Question
Select the correct answerA man gains 15% by selling a calculator for a certain price. If he sells it at the triple the price, then what will be the profit percentage?Options225175125245
Solution
The problem states that a man gains a 15% profit by selling a calculator at a certain price. If he triples the selling price, we need to find the new profit percentage.
Let's assume the cost price of the calculator is $100 (this makes calculations easier, and the percentage profit will be the same no matter the initial cost).
So, the selling price for a 15% profit would be 100 cost + $15 profit).
If he triples this selling price, the new selling price would be 115 x 3).
The profit made at this new selling price would be 345 selling price - $100 cost).
So, the profit percentage would be (Profit/Cost Price) x 100 = (100) x 100 = 245%.
Therefore, the correct answer is 245.
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