Multiple choice

Find the profit percentage of the shopkeeper. Statement I: Shopkeeper marked the price of an article at 80% more than its CP. Statement II: MP of article is 20% more than its SP. Statement III: Shopkeeper gives a total discount of 960 Rs to his customer.

  1. I and II

  2. I and III

  3. II and I or III

  4. Any two

  5. None of these

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let CP = 100. From statement I: MP = 180 (80% more than CP). From statement II: SP = MP/1.2 = 180/1.2 = 150 (since MP is 20% more than SP). Profit = 150 - 100 = 50, so profit% = 50/100 × 100 = 50%. Statements I and II together are sufficient to determine the profit percentage. Statement III (discount amount) is not needed and is redundant.