What is the percentage profit that the shopkeeper makes on the items he sells? I.The articles sold had a labelled price of 130 percent of the cost price. II.Each piece has a cost of Rs. 550. III.A 10% reduction on the labelled price was offered.
A. Only I
B. Only II
C. I and III
D. All the three are required
Answer:C
What is the percentage profit that the shopkeeper makes on the items he sells? I.The articles sold had a labelled price of 130 percent of the cost price. II.Each piece has a cost of Rs. 550. III.A 10% reduction on the labelled price was offered.
A. Only I B. Only II C. I and III D. All the three are required
Explanation: Assume C.P. is Rs. x.M.P. = 130 percent of x = Rs. 13x/10 is the result.III. S.P. equals 90% of M.P.As a result of steps I and III, S.P. = Rs. 90/100 x 13x /10 = Rs. 117x/100x= Rs. 17x/100 - gain = Rs. 117x/100,Gain percent can thus be calculated using I and III.II is obviously superfluous.