Aptitude - Profit and Loss

1. 

A shopkeeper sells some articles at the profit of 25% on the original price. What is the exact amount of profit? To find the answer, which of the following information given in Statements I and II is/are necessary?

I. 

Sale price of the article

 II. 

Number of articles sold

A. Only I is necessary
B. Only II is necessary
C. Either I or II is necessary
D. Both I and II are necessary
E. None of these

Answer: Option D

Explanation:

Gain = 25% of C.P.

In order to find gain, we must know the sale price of each article and the number of articles sold.

Correct answer is (D).


2. 

A shopkeeper sells some toys at Rs. 250 each. What percent profit does he make? To find the answer, which of the following information given in Statements I and II is/are necessary?

I. 

Number of toys sold.

 II. 

Cost price of each toy.

A. Only I is necessary
B. Only II is necessary
C. Both I and II are necessary
D. Either I or II ins necessary
E. None of these

Answer: Option B

Explanation:

S.P. = Rs. 250 each.

To find gain percent, we must know the C.P. of each.

Correct answer is (B).