Ram sells onions in the streets of Chandni Chowk. Due to recent shortfall in…
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Ram sells onions in the streets of Chandni Chowk. Due to recent shortfall in the supply of onions, he doubles his selling price despite the cost price remains same for him due to a fixed price contract. He realizes that his profit have tripled. Find the original profit percent.
- A.
200/3%
- B.
100%
- C.
120%
- D.
105∗1/3%
Attempted by 47 students.
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Correct answer: B
Let the cost price be x and the original selling price be y.
Key relation: doubling the selling price makes the new profit three times the original profit.
Original profit = y - x.
After doubling selling price, new selling price = 2y, so new profit = 2y - x.
Given new profit = 3 × original profit, so 2y - x = 3(y - x).
Solve: 2y - x = 3y - 3x ⇒ y = 2x.
Original profit = y - x = 2x - x = x, so profit percent = (x/x) × 100 = 100%.
Therefore the original profit percent is 100%.