On selling an article for certain price, a man loses 30%. What is his loss/profit percent, if he sells the article for double the price?

A 60% loss

B 15%loss

C 40% profit

D 30%profit

Correct Answer: Option C

Selling price =100% - 30% = 70% of cost price.

New selling price = 2*70% of cost price = 140% of the cost price

Profit = 140% – 100% = 40% of cost price.