Question

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

• A. Only I
• B. Only II
• C. I and III
• D. All the three are required
• E. Question cannot be answer even with information in all the three statements.

Answer 1

The correct option is C I and III

I. Let C.P. be $Rs.x$.
Then, $M.P.=130$% of $x=Rs.\left(\frac{13x}{10}\right)$
III. $S.P.=90$% of M.P.
Thus, I and III give, $S.P.=Rs.(\frac{90}{100}\times \frac{3x}{10})=Rs.\left(\frac{117x}{100}\right)$
$Gain=Rs.(\frac{117x}{100}-x)=Rs.\frac{17x}{100}$
Thus, from I and III, gain % can be obtained.
Clearly, II is redundant.