Direction: Each of the questions below consists of a question and three statements numbered I, II and III given below it. You have to study the questions and decide the data in which of the statements are sufficient to answer the questions.
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What is the percent profit earned by a 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 offered.
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- Only I
- Only II
- Only III
- All the three are required.
- Question cannot be answered even with the information in all the three statements.
Correct Option: B
From the statements, I and II,
Let, the cost price of the article be $100.
Cost price of each article = $550
∴ Labelled price = 130
| ∴ SP = 130 x | 90 | = | $ 117 |
| 100 |
Hence, II can be dispensed with.
