A shopkeeper labelled the price of the articles so as to earn a profit of 30% on the cost price. He then sold the articles by offering a discount of 10% on the labelled price what is the actual per profit earned in the deal ?
Solution
Let the cost price be x.
As per given condition, the labelled price will be 1.3x.
Discounted price will be 0.9*1.3x= 1.17x
Now, Profit = Price at which item was sold - Cost Price = 1.17x - x = .17x = 17% of Cost price.
Hence, profit is 17%.
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