20.
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What is the percent profit earned by the shopkeeper on selling the articles in his shop?
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I.
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Labeled price of the articles sold was 130% of the cost price.
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II.
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Cost price of each article was Rs. 550.
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III.
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A discount of 10% on labeled price was offered.
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A.
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Only I
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B.
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Only II
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C.
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I and III
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D.
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All the three are required
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E.
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Question cannot be answer even with information in all the three statements.
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Answer: Option C
Explanation:
I. Let C.P. be Rs. x.
Then, M.P. = 130% of x = Rs.
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13x
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.
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10
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III. S.P. = 90% of M.P.
Thus, I and III give, S.P. = Rs.
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90
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x
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13x
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= Rs.
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117x
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100
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10
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100
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Gain = Rs.
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117x
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- x
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= Rs.
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17x
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100
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100
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Thus, from I and III, gain % can be obtained.
Clearly, II is redundant.
