P sold an item for ₹70 and earned 100% profit. What should be the selling price of the item to earn 150% profit?

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Accepted Answer

1. **Understand the given data**:  
   - Selling price (SP) for 100% profit = ₹70.  
   - Profit percentage = 100%.  
   - Cost price (CP) can be calculated as:  
     $$
     CP = \frac{SP}{1 + 	ext{Profit Percentage}} = \frac{70}{2} = ₹35.
     $$

2. **Calculate the selling price for 150% profit**:  
   - Profit percentage = 150%.  
   - New SP is given by:  
     $$
     SP = CP 	imes (1 + 	ext{Profit Percentage}) = 35 	imes (1 + 1.5) = 35 	imes 2.5 = ₹87.50.
     $$

Thus, the selling price to earn 150% profit is **₹87.50**, and the correct answer is **(c)**.

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