Aptitude - Profit and Loss - Discussion

Option 1 is correct.

Explanation :

3p = 2cp-cp/cp.
3p = cp/cp.
p = 1/3.
p% = 100/3.
p% = 662/3.

Let c.p=x
s.p=2x

Profit = s.p - c.p
Profit = 2x - x = x
Profit % = x*100/x = 100%

First of all, in the problem they had given that if selling price doubles, profit will be tribled.

Actually we have the formulae that
profit = selling price - cost price

Let the selling price be y and cost price be x

From formulae above profit= s.p.-c.p.

Profit= y-x___________(1)

From the data given, if selling price doubles, profit will be tribled. so that

From(1), we can write

profit=y-x, here from the data given if y doubles profit will be tribled. so we can write in place of profit we can write y-x

3(y-x) = 2y-x
y=2x
profit from (1)
profit=2x-x
= x

Then we have to calcute profit percentage, so we have formulae for profit percentage
Profit%= (profit/cost price)*100
= (x/x)*100

Profit% =100%.

Don't take x, y. Simply assume let COST PRICE = C.P,SELLING PRICE = S.P.

STEP-1:

According to question profit tripled,
i.e 3*PROFIT, and we can write profit = S.P - C.P.
So it becomes, 3*(S.P-C.P) --- equation 1.

STEP-2:

Also its given S.P is doubled i.e 2*S.P.
According to us profit should be,
Profit = S.P - C.P (Formula)
= 2*S.P - C.P ---- equation 2.

STEP-3:

Compare both equations because both shows profit,
3*(S.P-C.P) = 2*S.P-C.P.
3S.P-3C.P = 2S.P-C.P.

Now taking S.P one side and C.P another,
3S.P-2S.P = 3C.P-C.P.
S.P = 2C.P.

STEP-4:

Profit = S.P - C.P (formula).
= 2C.P - C.P.
Profit = C.P.

Using above in formula now,

Profit% = profit/cp*100.
= C.P/C.P*100.
= 100%.

First of all, in the problem they had given that if selling price doubles, profit will be tribled.

Actually we have the formulae that,

Profit = selling price - cost price.

Let the selling price be y and cost price be x.

From formulae above profit= s.p - c.p.

Profit= y - x -----> (1).

From the data given, if selling price doubles, profit will be tripled. so that,

From(1), we can write

Profit = y-x, here from the data given if y doubles profit will be tripled. so we can write in place of profit we can write y-x.

3(y-x) = 2y-x,
y = 2x,
profit from (1),
profit = 2x-x.
= x.

Then we have to calculate profit percentage, so we have formulae for profit percentage
Profit%= (profit/cost price) * 100,
= (x/x) * 100.

Profit% = 100%.
Thus the answer is crystal clear.

Please read the question carefully,

S.P. is doubled.

Profit triples.

Let C.P. = 10, S.P. =20, Profit =30.

Profit%= (S.P. - C.P. ) / (C.P. ) *100.

= (20-10) / (10) *100.

=10/10*100.

=100%.

SOLVED.

Let cp = x; and sp = y;

First profit = sp - cp so it will be = y - x.
P =y-x --> 1.

Given that 3p=2y-x
Substitute p from 1.

3(y-x) = 2y - x,
y = 2x.
Now profit = sp - cp = y - x = 2x - x = x.
Profit%=profit/cp*100.
=x/x*100 = 100%.

It's clearly mentioned in the question.

i) 2S.P - C.P = 3Profit
ii)Profit = S.P - C.P.

Now substitute ii in i, then you will get,
2S.P-C.P = 3(S.P-C.P).

After the simplification.
S.P = 2C.P.
* iii) (S.P/C.P)=2.

Now we have to find the profit%.
Profit%=((S.P-C.P)/C.P)*100 = {(S.P/C.P)-1}*100.
Substituting iii in above will give you (2-1)*100 = 100,
So the Profit %=100.

I have a doubt, is the question asking to calculate profit before doubling the SP or after?

Let us assume SP = Rs 6, CP = Rs 3, Profit = Rs 3.
As per question new SP = Rs 12, CP will remain same Rs 3 , Profit = Rs 9 ( triple of previous).

in 1st case P% = P/CPx100 = 3/3 x100 = 100%.
in 2nd case P% = 9/3 x100 = 300%.

Please confirm what is specified by the question? Profit in 1st case or 2nd case. Please explain me.

In the final equation why selling price is x. Why not 2x? Please explain me.