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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 Rs 5000.
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 Rs 5000.
- a)Only I and II
- b)Only II and III
- c)Only I and III
- d)All I, II and III
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
By selling an article what is the profit percent gained?I. 5% discount...
I. Let the list price be Rs x.
Then, S.P. = 95% of Rs x = Rs (19x/20)
II. When S.P. = Rs x and gain = 20%.
Then, C.P. = Rs (100/120 × x) = Rs (5x/6)
∴ Gain = (19x/20) – (5x/6) = (7x/60)
∴ Gain % = [(7x/60) × (6/5x) × 100]% = 14%
Thus, I and II only give the answer.
∴ Correct answer is (a).
Then, S.P. = 95% of Rs x = Rs (19x/20)
II. When S.P. = Rs x and gain = 20%.
Then, C.P. = Rs (100/120 × x) = Rs (5x/6)
∴ Gain = (19x/20) – (5x/6) = (7x/60)
∴ Gain % = [(7x/60) × (6/5x) × 100]% = 14%
Thus, I and II only give the answer.
∴ Correct answer is (a).
Most Upvoted Answer
By selling an article what is the profit percent gained?I. 5% discount...
To find the profit percentage gained by selling an article, we need to consider the given information and calculate the profit percentage.
Given:
I. 5% discount is given on the list price.
II. If no discount is given, a 20% profit is gained.
III. The cost price of the article is Rs 5000.
Let's analyze the given information step by step:
I. 5% discount is given on the list price:
- The discount of 5% means the selling price will be 95% of the list price.
- Let's assume the list price is 'L'.
- Selling price = L - (5/100)L = L - 0.05L = 0.95L
II. If no discount is given, a 20% profit is gained:
- If there is no discount, the selling price will be equal to the list price.
- Let's assume the list price is 'L'.
- Selling price = L
- Cost price = Rs 5000
- Profit = Selling price - Cost price = L - 5000
- Profit percentage = (Profit/Cost price) * 100 = [(L - 5000)/5000] * 100
Now, let's calculate the profit percentage in both scenarios:
I. 5% discount is given on the list price:
- Selling price = 0.95L
- Profit = Selling price - Cost price = 0.95L - 5000
- Profit percentage = (Profit/Cost price) * 100 = [(0.95L - 5000)/5000] * 100
II. If no discount is given, a 20% profit is gained:
- Selling price = L
- Profit = Selling price - Cost price = L - 5000
- Profit percentage = (Profit/Cost price) * 100 = [(L - 5000)/5000] * 100
We can see that in both scenarios, the profit percentage is [(L - 5000)/5000] * 100.
Therefore, by analyzing the given information, we can conclude that the profit percentage gained by selling the article is the same in both cases. Hence, the correct answer is option 'A' - Only I and II.
Given:
I. 5% discount is given on the list price.
II. If no discount is given, a 20% profit is gained.
III. The cost price of the article is Rs 5000.
Let's analyze the given information step by step:
I. 5% discount is given on the list price:
- The discount of 5% means the selling price will be 95% of the list price.
- Let's assume the list price is 'L'.
- Selling price = L - (5/100)L = L - 0.05L = 0.95L
II. If no discount is given, a 20% profit is gained:
- If there is no discount, the selling price will be equal to the list price.
- Let's assume the list price is 'L'.
- Selling price = L
- Cost price = Rs 5000
- Profit = Selling price - Cost price = L - 5000
- Profit percentage = (Profit/Cost price) * 100 = [(L - 5000)/5000] * 100
Now, let's calculate the profit percentage in both scenarios:
I. 5% discount is given on the list price:
- Selling price = 0.95L
- Profit = Selling price - Cost price = 0.95L - 5000
- Profit percentage = (Profit/Cost price) * 100 = [(0.95L - 5000)/5000] * 100
II. If no discount is given, a 20% profit is gained:
- Selling price = L
- Profit = Selling price - Cost price = L - 5000
- Profit percentage = (Profit/Cost price) * 100 = [(L - 5000)/5000] * 100
We can see that in both scenarios, the profit percentage is [(L - 5000)/5000] * 100.
Therefore, by analyzing the given information, we can conclude that the profit percentage gained by selling the article is the same in both cases. Hence, the correct answer is option 'A' - Only I and II.
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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 Rs 5000.a)Only I and IIb)Only II and IIIc)Only I and IIId)All I, II and IIICorrect answer is option 'A'. Can you explain this answer?
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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 Rs 5000.a)Only I and IIb)Only II and IIIc)Only I and IIId)All I, II and IIICorrect answer is option 'A'. Can you explain this answer? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about 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 Rs 5000.a)Only I and IIb)Only II and IIIc)Only I and IIId)All I, II and IIICorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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 Rs 5000.a)Only I and IIb)Only II and IIIc)Only I and IIId)All I, II and IIICorrect answer is option 'A'. Can you explain this answer?.
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