SOLUTION: If selling price is doubled, the profit triples. Find the profit percent.

Algebra ->  Finance -> SOLUTION: If selling price is doubled, the profit triples. Find the profit percent.      Log On


   

Question 1089344: If selling price is doubled, the profit triples. Find the profit percent.
Answer by MathLover1(20850) About Me  (Show Source):
You can put this solution on YOUR website!
Let the C.P. be x and the S.P. be y
So the profit is %28y+-+x%29++ ---------------------------- (1)
Now, the S.P. is doubled. So the new SP=+2y
The new profit+=+%282y+-+x%29
Given that when S.P. is doubled, profit increases 3 times
=> New+profit+=+3+%2A+old+profit
=> %282y+-+x%29+=+3%28y+-+x%29
=> 2y+-+x+=+3y+-+3x
=> y+=+2x
So, the profit+=+%28y+-+x%29+=+%282x+-+x%29+=+x
profit_percent+=%28x+%2Fx%29+%2A+100%29% = 100%