Understanding the Problem

The question asks us to find the profit percent on an article. We are given the initial cost price (CP), a percentage increase applied to find the marked-up price (MP), and a percentage discount applied to the marked-up price to get the final selling price (SP).

Step 1: Calculate the Marked-up Price (MP)

The article was purchased for Rs. 7000. This is the Cost Price (CP).

The price was marked up by 30%. To find the marked-up price, we first calculate the markup amount:

Markup Amount = 30% of CP

Markup Amount = $\frac{30}{100} \times \text{Rs. } 7000$

Markup Amount = $0.30 \times 7000 = \text{Rs. } 2100$

Now, we add the markup amount to the cost price to get the marked-up price:

Marked-up Price (MP) = CP + Markup Amount

MP = Rs. 7000 + Rs. 2100

MP = Rs. 9100

Step 2: Calculate the Selling Price (SP)

The article was sold at a discount of 10% on the marked-up price (MP).

First, calculate the discount amount:

Discount Amount = 10% of MP

Discount Amount = $\frac{10}{100} \times \text{Rs. } 9100$

Discount Amount = $0.10 \times 9100 = \text{Rs. } 910$

Next, subtract the discount amount from the marked-up price to find the selling price:

Selling Price (SP) = MP - Discount Amount

SP = Rs. 9100 - Rs. 910

SP = Rs. 8190

Step 3: Calculate the Profit

Profit is the difference between the selling price and the cost price.

Profit = SP - CP

Profit = Rs. 8190 - Rs. 7000

Profit = Rs. 1190

Step 4: Calculate the Profit Percent

The profit percent is calculated based on the cost price.

Profit Percent = $\left( \frac{\text{Profit}}{\text{Cost Price}} \right) \times 100\%

Profit Percent = $\left( \frac{\text{Rs. } 1190}{\text{Rs. } 7000} \right) \times 100\%

Profit Percent = $\left( \frac{1190}{7000} \right) \times 100\%

Profit Percent = $\left( \frac{119}{700} \right) \times 100\%

Profit Percent = $\frac{119}{7} \%$

Profit Percent = $17\%$

Conclusion

The profit percent on the cost price is 17%.