Andrew sold an article at 10% profit. If he would have sold it at the double price, then what would be the profit percentage?
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Let Andrew bought the article for $ x , then selling price is x + x × 1 0 0 1 0 = 1 0 1 1 x .
Doubling the selling price, Andrew would have sold the article at $ 1 0 2 2 x . Hence the profit would be 1 0 2 2 x − x = 1 0 1 2 x .
Now using the formula for profit percentage i.e. Profit Percentage = Cost Price Profit × 1 0 0 .
Profit %= x 1 0 1 2 x × 1 0 0 = 1 2 0 % □
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