Subject: General Aptitude · Chapter: Profit and Loss · Exam: 2005 · Marks: · Difficulty:
What is the percent profit earned by the shopkeeper 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 ` 550. III. A discount of 10% on labelled price was of fered.
(a)Only I
(b)Only II
(c)Only III
(d)All the three are required
(e)Question cannot be answered even with information in all the three statements.
Answer
Answer (as printed): B
Explanation
I. Let C.P. be ₹$x$. Then, M.P. $=130\%$ of $x=₹\frac{13x}{10}$. III. S.P. $=90\%$ of M.P. Thus, I and III give, S.P. $=₹\left(\frac{90}{100}\times\frac{13x}{10}\right)=₹\frac{117x}{100}$. $$\text{Gain}=₹\left(\frac{117x}{100}-x\right)=₹\frac{17x}{100}.$$ Thus, from I and III, gain\% can be obtained. Clearly, II is redundant. ∴ Correct answer is (b).
Explanation as extracted from the printed page; notation may be imperfect.