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

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

Given:

I) 5% discount is given on the list price.

II) If the discount is not given, 20% profit is gained.

III) The cost price of the articles is Rs. 5,000.

Calculation:

Let the list price of a product be Rs.100

By the 1st statement,

5% discount on the list price.

⇒ Selling price = 95% × list price

⇒ Selling price = 95/100 × 100

⇒ Selling price = 95

By the second statement,

If the discount is not given, 20% profit is gained.

⇒ 100 = 120

⇒ 1 = 120/100

⇒ Selling price is 95

⇒ Selling price = 95 × 120/100

⇒ Selling price = 114

∴ 14% profit

∴ Statement I and II are enough to find profit percent.

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