Profit and Loss - Arithmetic Aptitude Questions and Answers

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What is the percent profit earned by the shopkeeper on selling the articles in his shop?

I.Labeled 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 labeled price was offered.

Only I

Only II

I and III

All the three are required

Question cannot be answer even with information in all the three statements.

Answer : Option C

Explanation :

I. Let C.P. be Rs. x.

Then, M.P. = 130% of x = Rs.		13x	.
		10

III. S.P. = 90% of M.P.

Thus, I and III give, S.P. = Rs.		90	x	13x		= Rs.		117x
		100		10				100

Gain = Rs.		117x	- x		= Rs.	17x
		100				100