Class 7 Exam > Class 7 Questions > By selling an article what is the profit perc...
Start Learning for Free
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?
| FREE This question is part of | Download PDF Attempt this Test |
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.
Attention Class 7 Students!
To make sure you are not studying endlessly, EduRev has designed Class 7 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 7.
|
Explore Courses for Class 7 exam
|
|
Similar Class 7 Doubts
Top Courses for Class 7View all
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?
Question Description
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?.
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?.
Solutions 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? in English & in Hindi are available as part of our courses for Class 7.
Download more important topics, notes, lectures and mock test series for Class 7 Exam by signing up for free.
Here you can find the meaning of 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? defined & explained in the simplest way possible. Besides giving the explanation of
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?, a detailed solution 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? has been provided alongside types of 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? theory, EduRev gives you an
ample number of questions to practice 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? tests, examples and also practice Class 7 tests.
|
|
Explore Courses for Class 7 exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup