Question

What is the percent profit earned by the shop keeper on selling the articles in his shop?
I. Labelled price of the articles sold was $130$% of the cost price.
II. Cost price of each article was Rs.$550$
III. A discount of $10$% on labelled price was offered.

• A. Only I
• B. Only II
• C. Only III
• D. All the three are required

Answer 1

The correct option is D All the three are required

Explanation:

I. S.P.=130% C.P.

ii. C.P. of each article is Rs 550.

Labelled price of an article $=\frac{130}{100}\times 550$ $=13\times 55=715=x$

10% discount offered on labelled price.

So S.P.$=715-71.5=643.5$

Profit=$\frac{S.P.-550}{550}\times 100=\frac{643.5-550}{550}\times 100=\frac{93.5}{550}\times 100=0.17\times 100=17.$

Hence, all the three are required.