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.
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I and II
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I and III
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II and I or III
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Any two
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None of these
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.