If the selling price is doubled, the profit triples. What is the profit percent?
A) 50%
B) 60%
C) 120%

Answer Verified Verified
Hint – Here, we will proceed by finding the profit by using the formula, Profit = S.P – C.P. Then we will calculate the profit percentage by using the formula Profit Percentage = $\dfrac{{PROFIT}}{{C.P.}} \times 100$ .

Complete step-by-step solution -
Now we know that
Profit = S.P – C.P.
And we have to find a profit percentage.
Profit Percentage – Profit percentage is used to depict how much profit a trader gets from a particular deal.
Profit Percentage = $\dfrac{{PROFIT}}{{C.P.}} \times 100$
Let us suppose that,
C.P = $x$
S.P= $y$
We know that,
Profit = S.P – C.P
=$y - x$
If Selling price that is S.P is doubled then (given in the question),
S.P = $2y$
Therefore, Profit = $2y - x$
If Profit triples then (given in the question),
$3\left( {y - x} \right)$
$ \Rightarrow $$3y - 3x$
$ \Rightarrow 2y - x = 3y - 3x$
By simplifying, we will get
$y = 2x$
$\therefore $ Profit = $y - x$
=$2x - x$
$ = x$
Now, by using the value of profit we can calculate the profit percentage.
Profit Percentage = $\dfrac{ Profit }{{C.P.}} \times 100$
   = \dfrac{x}{x} \times 100 \\
   = 100\% \\
$\therefore $ Option (D) is correct.

Note – Here, in this question we assume the cost price and the selling price then we used them in the conditions given in the question. Thus after solving the equations we get our desired answer. Also we need to find profit to find profit percent.