Aptitude - Profit and Loss

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Overview

Important Formulas

Exercise

"Two things are infinite: the universe and human stupidity; and I'm not sure about the universe."

- Albert Einstein

Directions to Solve

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and

Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.
Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.
Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.
Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.
Give answer(E) if the data in both Statements I and II together are necessary to answer the question.

A man mixes two types of rice (X and Y) and sells the mixture at the rate of Rs. 17 per kg. Find his profit percentage.
I.
The rate of X is Rs. 20 per kg.
II.
The rate of Y is Rs. 13 per kg.

A.	I alone sufficient while II alone not sufficient to answer
B.	II alone sufficient while I alone not sufficient to answer
C.	Either I or II alone sufficient to answer
D.	Both I and II are not sufficient to answer
E.	Both I and II are necessary to answer

By selling a product with 20% profit, how much profit was earned?
I.
The difference between cost and selling price is Rs. 40.
II.
The selling price is 120 percent of the cost price.

A.	I alone sufficient while II alone not sufficient to answer
B.	II alone sufficient while I alone not sufficient to answer
C.	Either I or II alone sufficient to answer
D.	Both I and II are not sufficient to answer
E.	Both I and II are necessary to answer