NIMCET 2018 Question Paper with solutions

Question : 82 of 120

Marks: +1, -0

By selling an article, what is the profit percent gained?
I. 5% discount is given on list price.
II. If discount is not given, 20% profit is gained.
III. The cost price of the articles is ₹ 5,000.

I and II
U and III
I and III
All of I, II and III

Validate

Solution:

All the statements are necessary to find the profit percentage. Let the marked price of the item be ₹ x.
From statement III,
Cost price of article = ₹ 5000
From statement II,
If discount is not given, profit percentage = 20 %
∴

{x-5000}/{5000}

× 100 = 20
∴ x = marked price = ₹ 6000
Now, from statement I,
Discount = 5%
∴ Selling price =

(95)/{100}

× 6000
= ₹ 5700
Hence, profit percentage =

{5700-5000}/{5000}

× 100 = 14 %

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