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### Discussion :: Profit and Loss

1.  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.

2.  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.

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

Thus, from I and III, gain % can be obtained.

Clearly, II is redundant.

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