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The marked price of an article is increased by 25% and the selling price is increased by 16.66%, then the amount of profit doubles. If the original marked price be Rs. 400 which is greater then the corresponding cost price by 33.33%, what is the increased selling price ?
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- 240
- 360
- 420
- 600
Correct Option: C
Initially :
CP = 100
Profit = x
SP = 100 + x
MP = 133.33
After change
CP = 100
Profit = 2x
SP = [7(100 + x)]/6
Now , since (100 + x) 7/6 - 100 = 2x
⇒ x = 20%
CP = 100
Profit = 20
SP = 120
MP = 133.33
so when CP = 300
Selling price = 300 + 20% = 360.
After change
So when CP = 300
Selling price = 300 + 2 x 20% of 300 = 420
So the increased selling price = Rs. 420
